Place one puff pastry dough round on work surface. Top with 2 tablespoons shredded Queso Blanco and 1 tablespoon guava paste. Lightly brush edges of dough rounds with water; fold dough in half, pressing edges together to seal. Press edges with fork to seal tightly. Repeat with remaining dough and filling. Brush each empanada with beaten egg.
Preheat oven to 425°F. Place empanadas on large greased cookie sheet. Bake 10 to 12 minutes or until puffed and golden.