In a small bowl, blend the Italian seasoning, garlic powder, onion powder, salt, and pepper; set aside.
Cut the bread into 1-inch cubes, then place half of them into a large mixing bowl.
Drizzle the bread cubes with half of the olive oil; sprinkle them with half of the seasoning. With bare hands, toss to coat. Add the rest of the bread cubes to the bowl, then drizzle the remaining olive oil and sprinkle on the rest of the seasoning. Toss to coat, ensuring olive oil soaks into all pieces of the bread.
Transfer half of the bread into the air fryer basket, close up, and cook at 375ยบ F for 3 minutes.
After 3 minutes, open the air fryer and give the croutons a good shake. Close it back up and cook for another 2-3 minutes, or until the croutons are golden and toasted.
Transfer the croutons to a container and continue on with the second batch of croutons, repeating steps 6 & 7.
Store the croutons in an airtight container for up to two weeks or freeze them for up to 4 months in a resealable freezer bag.