Heat oil in a deep-fryer to 375 degrees F (190 degrees C). Mix pancake mix with water according to package directions.
When the oil comes up to temperature, dip 4 or 5 cookies at a time into the batter, and fry in hot oil, turning once, until golden brown. Remove from oil using tongs, and drain on paper towels. Sprinkle fried cookies with confectioners sugar and serve.