Heat the olive oil in a large saucepan over medium heat. Add the chopped onion and cook for 2–3 minutes, until softened.
Add the Arborio rice and stir for 1 minute to lightly toast the grains.
Gradually add the warm broth, about 1 cup at a time. Stir regularly and allow each addition to absorb before adding more.
Continue cooking for approximately 20–25 minutes, or until the rice is tender, creamy, and thick.
Remove the saucepan from the heat. Stir in the Parmesan cheese, parsley, Italian seasoning, salt, and black pepper.
Spread the cooked risotto onto a baking sheet or shallow dish. Allow it to cool briefly, then refrigerate for about 1 hour, or until completely cold and firm.
Once the rice is cold, mix in 1 beaten egg to help bind the mixture.
Prepare three shallow bowls: one with flour, one with the 2 beaten eggs, and one with breadcrumbs mixed with Italian seasoning.
Scoop about ¼ cup of the cold rice mixture into your hand and flatten it slightly.
Place one mozzarella cube in the center. Fold the rice around the cheese and roll it into a compact ball. Make sure the mozzarella is completely covered.
Repeat with the remaining rice mixture and mozzarella.
Coat each rice ball first in flour, then in beaten egg, and finally in the seasoned breadcrumbs. Press gently so the breadcrumbs stick well.
Heat the frying oil to approximately 350°F–375°F (175°C–190°C).
Fry the arancini in small batches for 3–5 minutes, turning occasionally, until golden brown and crispy on all sides.
Remove the rice balls with a slotted spoon and place them on a wire rack or paper towel-lined plate to drain.
Allow the arancini to cool for a few minutes, then serve warm with marinara sauce, grated Parmesan, and fresh parsley.