Preheat the oven to 300 degrees F. Line a baking sheet with foil for easy cleanup.
Pat the riblets dry with paper towels. Place them in a large bowl and drizzle with olive oil. Toss to coat evenly.
In a small bowl, stir together the smoked paprika, garlic powder, onion powder, salt, and black pepper. Sprinkle the mixture over the riblets and rub it in on all sides.
Arrange the riblets in a single layer on the prepared baking sheet. Bake for 2 hours until the meat is tender and pulls away from the bone slightly.
Remove the baking sheet from the oven. Brush the riblets generously with BBQ sauce on all sides. Return them to the oven for 15 minutes to set the sauce.
Let the riblets rest for 5 minutes before transferring them to a serving platter.