Preheat the oven to 400°F (200°C). Line a baking sheet with aluminum foil and spray it with non-stick spray; set aside.
In a large mixing bowl, combine the ground beef (or turkey), panko, egg, kosher salt, black pepper, garlic powder, minced yellow onion, dried oregano, dried basil, and olive oil.
Mix the ingredients gently but thoroughly until evenly combined, taking care not to overwork the meat.
Form the mixture into 1-inch meatballs and place them evenly on the prepared baking sheet.
Bake for 15 to 20 minutes, or until the meatballs are cooked through and reach an internal temperature of 165°F (74°C) for turkey or 160°F (71°C) for beef.
Remove from the oven and serve with pasta, sauce, or as an appetizer.