Heat oil in deep fryer or heavy skillet to 375°F.
Cut 4 circles of mozzarella — each one roughly the size and shape of a pepperoni — from each slice of cheese until you have a total of 30 circles of mozzarella.
Place two circles of cheese between every two pepperoni.
Combine milk and eggs in bowl and whisk until smooth.
Coat each mozzarella stuffed pepperoni in flour, dip in egg wash and cover in panko breadcrumbs. Repeat this process again if necessary.
Fry mozzarella stuffed pepperoni for 90 seconds or until the breading is golden brown.
Drain on paper towels and serve with marinara or your preferred dipping sauce.