Preheat your oven to 400°F.
In a large bowl, combine the ground beef, breadcrumbs, Parmesan cheese, parsley, egg, garlic powder, onion powder, salt, and black pepper. Mix until well combined.
Shape the mixture into meatballs, about 1 inch in diameter, and place them on a baking sheet lined with parchment paper.
Drizzle the olive oil over the meatballs and bake in the preheated oven for 20 minutes, or until they are cooked through and browned.
While the meatballs are baking, heat the French onion soup in a saucepan over medium heat until warmed through.
Once the meatballs are done, remove them from the oven and pour the warm French onion soup over them. Sprinkle the shredded mozzarella cheese on top.
Return the meatballs to the oven and bake for an additional 5-7 minutes, or until the cheese is melted and bubbly.
Serve hot, garnished with additional parsley if desired.