The Palomar Transient Factory (PTF) Orion project is one of the experiments within the broader PTF survey, a systematic automated exploration of the sky for optical transients. Taking advantage of the wide (3.5{deg}x2.3{deg}) field of view available using the PTF camera installed at the Palomar 48 inch telescope, 40 nights were dedicated in 2009 December to 2010 January to perform continuous high-cadence differential photometry on a single field containing the young (7-10Myr) 25 Ori association. Little is known empirically about the formation of planets at these young ages, and the primary motivation for the project is to search for planets around young stars in this region. The unique data set also provides for much ancillary science. In this first paper, we describe the survey and the data reduction pipeline, and present some initial results from an inspection of the most clearly varying stars relating to two of the ancillary science objectives: detection of eclipsing binaries and young stellar objects.