Preheat the air fryer to 400°F (200°C) for 5 minutes.
In a shallow bowl, combine the all-purpose flour, paprika, garlic powder, onion powder, salt, and black pepper.
In a second shallow bowl, beat the eggs until smooth.
Place the panko breadcrumbs in a third shallow bowl.
Pat the tilapia fillets dry with paper towels.
Dredge each fillet first in the seasoned flour mixture, shaking off any excess.
Dip the fillets into the beaten eggs, coating completely.
Press each fillet into the panko breadcrumbs until evenly coated on all sides.
Lightly brush or spray both sides of the coated fillets with olive oil.
Place the fillets in a single layer in the air fryer basket, making sure they do not overlap. You may need to cook in batches.
Air fry the tilapia fillets at 400°F (200°C) for 10 to 12 minutes, flipping halfway through, until the coating is golden brown and the fish flakes easily with a fork.
Carefully remove the fillets from the air fryer and serve immediately.