Preheat your oven to 375°F (190°C).
Grease a 9x13 baking dish with cooking spray or a light coating of oil.
In a medium skillet over medium heat, add olive oil and sauté the onion until soft (about 5 minutes). Add garlic and cook another 30 seconds.
In a large bowl, whisk together rice, both soups, water or broth, garlic powder, onion powder, Italian seasoning, salt, and pepper.
Pour the rice mixture into the prepared baking dish and spread evenly.
Place the chicken breasts on top of the rice mixture. Season the chicken lightly with salt, pepper, and a sprinkle of Italian seasoning.
Cover tightly with aluminum foil and bake for 50–60 minutes, or until the rice is tender and chicken is cooked through.
Optional: Remove foil, sprinkle shredded cheddar cheese over the chicken, and return to the oven uncovered for an additional 5–10 minutes to melt.
Garnish with chopped parsley before serving.