In a bowl, combine the oats and milk. Let them soak for about 5 minutes until the oats soften.
In another bowl, whisk together the flour, sugar, baking powder, and salt.
Add the egg, oil, and vanilla to the oat mixture. Stir until well combined.
Add the dry ingredients to the wet ingredients and stir until just combined.
Heat a non-stick skillet over medium heat. Pour 1/4 cup of batter onto the skillet for each pancake.
Cook until bubbles form on the surface and the edges look set, about 2-3 minutes. Flip and cook for another 2 minutes until golden brown.
Serve warm with your favorite toppings.