Preheat your Air Fryer to 380°F.
In three separate bowls, prepare your dredging station. In the first bowl, add your flour. In your second bowl, add your two eggs and whisk them until combined. In your third bowl, add your Panko breadcrumbs, Parmigiano-Reggiano, Salt Pepper and Olive Oil.
Take your frozen peas and heat them in the microwave until they are thawed. Mix them into the chilled risotto.
Divide your risotto into 8 equal balls (about ¼ cup per Arancini). Take a 1-inch cube of mozzarella and stick it in the middle of the risotto ball and then roll them like a meatball until they are round and even. Repeat with all the risotto balls until you have 8 equal spheres.
Working one at a time, dip each risotto ball into the flour, then into the egg wash and then into the breadcrumb mixture - ensuring there are no gaps in the breadcrumb coating.
Drizzle the basket of your Air Fryer with a bit of Olive Oil (or Canola/Vegetable Oil). Place your Arancini balls into your Air Fryer and cook at 360° for 8 minutes then flip them over and cook for another 8 minutes or until crispy and golden brown.
Serve immediately with a marinara sauce, pesto or just as is.