Immersion and invariance is a technique for the design of stabilizing and adaptive controllers and state observers for nonlinear systems. In all these applications the problem considered is the stabilization of equilibrium points. Motivated by some modern applications, we show that the technique can also be used to solve the problem of orbital stabilization, where the final objective is to generate periodic solutions that are attractive. The feasibility of our result is illustrated by means of some classical mechanical engineering and power electronics examples.