In 3-quart heavy saucepan, heat oil to 370°F. In shallow bowl or plate, mix sugar and cinnamon. Set aside.
Separate dough into 8 biscuits. Press each biscuit into 4-inch round. Spoon 1 tablespoon of the hazelnut spread on each biscuit. Fold dough over filling; press edges to seal.
Gently place 3 biscuits in hot oil. Cook 1 1/2 minutes or until deep golden brown. Using tongs, gently turn over. Cook 1 1/2 minutes or until deep golden brown. Remove to paper towels to drain. Roll in sugar mixture. Repeat with remaining biscuits, cooking 2 or 3 at a time. Serve warm.