We present in this paper a status report of the space experiment PAMELA. PAMELA is a satellite-borne experiment which primarily aims to measure the antiproton and positron spectra in the cosmic radiation over a large energy range (from 80 MeV up to 190 GeV for antiprotons and from 50 MeV up to 270 GeV for positrons) and to search for antinuclei with a sensitivity of the order of 10 −8 in the antihelium/helium ratio. In addition, it will measure the light nuclear component of cosmic rays and investigate phenomena connected with Solar and Earth physics. The apparatus will be installed onboard the polar orbiting Resurs DK1 satellite, which will be launched into space by a Soyuz TM2 rocket in 2004 from Baikonur cosmodrome in Kazakhstan, for a 3 year long mission. PAMELA consists of: a time of flight system, a transition radiation detector, a magnetic spectrometer, an anticoincidence detector, an electromagnetic imaging calorimeter, a shower tail catcher scintillator and a neutron detector.