In a large bowl, measure and whisk the flour, sugar, baking powder, and salt. Move the flour to the sides to make a well (hole) in the middle.
Pour in the milk, eggs, oil, and vanilla. With a fork, whisk the eggs and liquids together, then incorporate them into the dry ingredients until a batter forms.
Cook the pancakes:
Heat a griddle or non-stick pan over medium heat. For smooth tops, like McDonald's pancakes, pour the batter directly on the non-stick surface. Pour ¼ cup of batter per pancake on the hot surface, and with the back of the scoop or a spoon, spread out the batter into a 5" round circle.
Cook for 90 seconds to 2 minutes on the first side, then flip the pancakes with a thin spatula and cook for a little less time on the second side. Remove them from the pan or griddle onto a plate, then cover with a kitchen towel or a sheet pan and place in a 200F oven to keep the pancakes warm while you cook the rest of the batter.
Serve & Store:
Serve the pancakes warm, topped with butter and syrup.
Refrigerate leftovers for up to 4 days or freeze flat, then transfer into a zip bag and keep in the freezer for up to 3 months. Reheat in the microwave for 30 seconds to 1 minute or in the toaster.
Notes
McDonald's uses soybean oil in its batter, which is neutral-flavored. Both vegetable and canola oils are considered neutral-tasting oils. You can use melted and gently cooled butter, but the flavor will be different.
McDonald's does not use vanilla flavoring; they list "natural flavorings," which is close to a caramel flavoring. Adding a little vanilla adds a hint of flavor to an otherwise bland/neutral-tasting batter.