What is the best paint to use if painting over white wood paneling?

Is it also maybe possible to plaster/joint compound over the paneling for a textured finished?

go to a local paint/wall covering store...NOT LOWES OR HOME DEPOT.....and ask for help.....you can prime the walls with KILZ (oil based) and fill in the grooves in the paneling with drywall mud and texture it however you want...i recommend that you go to a local paint store NOT LOWES OR HOME DEPOT and ask them about different textures methods ...they can show you a lot more things than i have space here to write about.

Just another alternative.You can purchase thick, textured wallpaper that is especially made to go over paneling and not show the grooves.I know Lowe's has it.Probably home depot also.You can paint it and it looks great.Otherwise painted paneling is very pretty if you prepare correctly.

Any latex would work well. The only thing I would suggest is to prepare the surface with a primer first. It's like paint. But it covers heavily and usually cuts down the number of layers you need to paint.

Then you'll just need to decide what type of finish you want. Paint finishes are labeled such as flat, semi-gloss, high gloss, etc. Flat is very matte and dull. High gloss is very shiny and slick. I'd suggest somewhere in between!

GoJenni is almost there. First make sure you lightly sand the paneling even before priming the surface. Second, be sure to use an oil-based primer. This is true whether you want to finish with paint or plaster first. If you are going to plaster, you must make sure that the paneling is securely attached to the wall, as any voids will end up cracking and flaking the plaster and texture if they are compressed. If you are going to plaster anyway, I would suggest taking off the paneling first. You are going to have to skim coat the whole room anyway, and the plasterer will appreciate it.

any. ya plaster all you want it will look great