Begin by gathering all ingredients for easy access.
In a mixing bowl, combine the buttermilk, vegetable oil, and vanilla extract; add the sugar and stir until incorporated. Sift in the flour, baking powder, baking soda, and salt, then gently fold into the wet mixture, stirring briefly until just combined. Small lumps should remain in the batter.
In a separate bowl, whisk together the egg and lemon juice, then fold this mixture into the main batter. Cover the bowl and refrigerate the batter for 30 minutes to 1 hour to allow it to thicken and develop flavor.
Preheat a large skillet over medium heat. Lightly coat the skillet with butter. Pour approximately 1/3 cup of batter per pancake onto the skillet, cooking until bubbles form on the surface, about 2 minutes.
Flip each pancake with a spatula and cook for an additional 2 minutes or until golden brown on both sides.
Serve warm and enjoy!