Preheat your waffle iron and lightly coat it with cooking spray.
In a large mixing bowl, combine the 2 cups of Krusteaz Belgian waffle mix, 1 1/3 cups of cold water, 1/3 cup of vegetable oil, and 1 large egg. Mix until the batter is smooth.
Pour about 1/2 cup of batter onto the hot waffle iron, drizzling it equally across the iron.
Close the lid and cook the waffles until they're golden brown and crispy (about 3-4 minutes per waffle).
Remove the waffles from the waffle iron and serve them with your favorite toppings, such as maple syrup, melted butter, fresh fruit, and whipped cream.