Preheat the air fryer to 375°F (190°C) for even cooking.
Pat chicken breasts dry with a paper towel. Lightly coat with olive oil.
Mix paprika, garlic powder, onion powder, dried thyme, salt, and pepper in a small bowl. Rub the seasoning mixture evenly over both sides of the chicken.
Place chicken in the air fryer basket in a single layer. Cook for 10 minutes, flip, and cook for another 8–10 minutes, or until the internal temperature reaches 165°F (75°C).
Remove chicken and let it rest for 5 minutes before slicing and serving.