Remove the crusts from the bread slices and flatten each slice with a rolling pin.
Spread 1 tablespoon of Nutella evenly over each slice of bread.
Roll each slice tightly into a log shape and press the seam gently to help seal.
In a shallow bowl, whisk together the eggs, vanilla extract, cinnamon, and milk until fully combined.
Dip each roll-up into the egg mixture, coating all sides lightly without soaking the bread.
Preheat the air fryer to 370°F (188°C) for 2 to 3 minutes.
Lightly grease the air fryer basket. Place the roll ups seam-side down in a single layer with space between each one.
Air fry at 370°F (188°C) for 6 to 8 minutes, turning halfway through, until golden brown and lightly crisp on the outside.
Remove carefully and dust with powdered sugar. Serve warm with syrup.