Toss olives in flour, shaking off excess in strainer. Coat olives with beaten egg, then toss in panko mixture. Coat in eggs and panko again. Place breaded olives on parchment-lined sheet pan in one layer; refrigerate until needed.
Deep-fry olives in hot (350°F) oil about 2 minutes or until golden brown. Drain on paper towels.
Tip: Use pitted olives stuffed with garlic or pimento.