In a medium bowl, whisk together 1/3 cup all-purpose flour, 1 1/2 teaspoons granulated sugar, 1 1/4 teaspoons baking powder, and 1/8 teaspoon salt until evenly combined.
In a small bowl, whisk 1/4 cup milk, 1 large egg yolk, 1 tablespoon vegetable oil, and 1/2 teaspoon vanilla extract until blended.
Pour the wet ingredients into the dry ingredients and stir gently until just combined; a few small lumps are fineādo not overmix.
Heat a large skillet over medium heat until hot, then grease the skillet lightly with butter.
Pour 1/4 cup of batter onto the skillet for each pancake, spacing them so you can flip them.
Cook until bubbles form across the surface and the edges look set, then flip each pancake and cook the other side until golden brown.
If making more than one batch, grease the skillet lightly with butter between batches as needed.
Serve the pancakes hot with butter and syrup.