PAMELA is a satellite-borne experiment designed for precision studies of the charged cosmic radiation. The primary scientific goal is the study of the antimatter component of the cosmic radiation (antiprotons, 80 MeV - 190 GeV; and positrons, 50 MeV - 270 GeV) in order to search for evidence of dark matter particle annihilations. PAMELA will also search for primordial antinuclei (in particular, anti-helium), and test cosmic-ray propagation models through precise measurements of the antiparticle energy spectrum and studies of light nuclei and their isotopes. Concomitant goals include a study of solar physics and solar modulation during the 24th solar minimum by investigating low energy particles in the cosmic radiation; and a reconstruction of the cosmic ray electron energy spectrum up to several TeV thereby allowing a possible contribution from local sources to be studied. PAMELA is housed on-board the Russian Resurs-DK1 satellite, which was launched on June 15th 2006 in an elliptical (350-600 km altitude) orbit with an inclination of 70 degrees. PAMELA consists of a permanent magnet spectrometer, to provide rigidity and charge sign information; a Time-of-Flight and trigger system, for velocity and charge determination; a silicon-tungsten calorimeter, for lepton/hadron discrimination; and a neutron detector. An anticoincidence system is used offline to reject false triggers. In this article the PAMELA experiment and its status are reviewed. A preliminary discussion of data recorded in-orbit is also presented.