We present a scheme to control the spin-exchange interactions by manipulating the orbital degrees of freedom using a periodic drive. We discuss two different protocols for orbital Floquet engineering. In one case, a periodic drive modifies the properties of the ligand orbitals which mediate magnetic interactions between transition-metal ions. In the other case, we consider drive-induced mixing of d orbitals on each magnetic ion. We first find that an AC Stark shift of orbitals induces a change comparable to that induced from photoinduced hopping schemes, but expands the applicable frequency ranges. Next, we find that radiatively induced coherent vibrations provide a realistic path for Floquet orbital engineering with short pulses of electric fields weaker than 0.5 V/angstrom producing 5%-10% changes in the magnetic coupling of Mott insulators such as the rare-earth titanates.