Real wood or wood photo film?
First , clean it well! Here's a link with the whole process:
Chalk paint or milk paint should work well. I used milk paint on my kitchen cabinets, and the paint worked really well: http://momhomeguide.com/my-painted-kitchen-cabinets-a-year-later/
Hand paint the crevices so you get the paint in and roll the flat surfaces.
It is relatively easy once you do the prep work. I would go over the paneling and check for any exposed nails, or any areas that have built on residue, and then wash down your wall paneling with warm sudsy water. I like to use Murphy's Oil soap on the walls. Then paint with a roller or brush whichever you prefer. We use Benjamin Moore paint because it goes on so nicely. Once you do that, your paneling will take on a new life! It will brighten your room up!