Spray a donut pan with nonstick spray and set aside. Preheat oven to 350º Fahrenheit.
In a large bowl, combine all the donut ingredients until evenly mixed.
Spoon the batter into the donut cavities or use a large ziplock bag. Cut a corner off the bottom of the bag and pipe the batter into each donut cavity.
Bake for 20-22 minutes. Allow donuts to cool then invert them onto a wire rack.
In a small bowl, combine the powdered peanut butter, vanilla protein powder, and water. Spoon the glaze over the donuts. Let set and store an airtight container. These last 2-3 days at room temperature, 7-10 if stored in the fridge.