Preheat oven to 325 degrees F (165 degrees C). Line a baking sheet with waxed paper.
Mix oats, raisins, and cinnamon together in a bowl. Mix peanut butter with the oats mixture using your hands until ingredients are coated in peanut butter; add egg white and honey and continue mixing with hands until evenly mixed. Spread the mixture onto the baking sheet.
Bake in preheated oven for 10 minutes, stir, and continue baking until beginning to brown, 5 to 10 minutes more.
Let granola cool until it begins to harden, at least 30 minutes.