Preheat your oven to 400°F (200°C).
In a mixing bowl, combine the olive oil, garlic powder, onion powder, smoked paprika, dried thyme, salt, and black pepper. Mix well to form a marinade.
Pat the chicken thighs dry with paper towels to remove excess moisture.
Place the chicken thighs in the bowl with the marinade and toss until they are well coated.
Arrange the chicken thighs, skin-side up, in a baking dish or on a sheet pan lined with parchment paper.
Bake in the preheated oven for 40-50 minutes or until the internal temperature reaches 165°F (74°C).
Once cooked, remove from the oven and let the chicken rest for 5 minutes before serving.
Optionally, garnish with fresh herbs before serving.