Place a sieve over a large mixing bowl. Pour both cans of peaches over the sieve. Keep the juice in the bowl and peach slices in the sieve.
Preheat oven to 350°F (180°C). Lightly grease a 9-inch x 9-inch baking dish with cooking spray.
Place the peach slices evenly in the baking dish and sprinkle on top the cinnamon, brown sugar, vanilla extract, cornstarch, and 1/4 cup of the peach juice from the mixing bowl.
Stir to bring the ingredients together and coat the peach slices evenly with the mixture. Keep an even layer of peach in the pan for the best results.
In another large mixing bowl, add dry cake mix, melted butter, and 3/4 cup of peach juice from the previous bowl in step 1. Whisk until the batter is smooth.
Pour the cake batter all over the peaches.
Bake at 350°F (180°C) for 35-40 minutes or until golden brown on top.
Cool down for at least 30 minutes in the baking dish, at room temperature to avoid a soggy cobbler.