Prefinished paneling will need to be de-glossed. This can be done by sanding, or using a chemical deglossing mix, or even TSP. (Visit our local Paint Retailer and see what's best. If you can bring a sample of the paneling, that would be useful. They're the 'horses mouth'.)
Patch any holes with wood putty and sand down. Then cover with Kilz, and paint.
You can use Liquid Sandpaper too. You can then apply Grip and Seal, or something similiar like Kilz. This will help to seal the paneled surface and it helps the new paint stick.
I found this WEB page that may be useful. Painting Paneling My best to ya and hope this helps.