Preheat the air fryer to 350°F (180°C) for 5 minutes. In a small bowl, combine smoked paprika, garlic powder, Italian seasoning, salt, and black pepper to prepare the seasoning.
Pat the chicken dry with paper towels and make sure that the cavity is empty. Drizzle the chicken with olive oil, sprinkle the prepared seasoning over it, and rub it all over the chicken evenly.
Place the chicken in the air fryer basket, breast side down, and cook for 25 minutes. If you notice that the chicken is browning too quickly, shield it with a piece of aluminum foil.
Using kitchen tongs, carefully flip the chicken and cook for another 25 minutes. Keep an eye on the chicken during this process, and if required, shield with foil.
Once cooked, remove the chicken from the air fryer and let it rest for 10 minutes. This helps in retaining the juices when you carve the chicken. Carve the chicken and serve it warm.