How to Bake Thaw Biscuits overnight in the refrigerator. Heat 2 inches of oil in a heavy bottomed pot over medium heat until the oil reaches 350 degrees. While the oil is heating, in a small pot, melt the butter on low then stir in the powdered sugar, water, vanilla and salt until smooth and set aside. If it starts to crystalize, just reheat it and it will become smooth again. Roll out each biscuit until it is 3-4 inches across. Cut a 1-inch circle out of the middle of each biscuit. (You can fry those up as donut holes!) When the oil is heated, working in 2 batches, place 3 biscuits into the pot and cook until the bottom side turns lightly golden, then flip over and cook the other side till golden. (About 1 minute each side) Set on a paper towel to remove the excess oil. While the donuts are still warm, dunk them in the glaze and enjoy!