The processes of optical spin orientation and spin relaxation of electrons are treated theoretically for semiconductor quantum wells, in which the spin splitting of the energy spectrum is comparable with the characteristic energy of charge carriers. The density matrix of photoexcited electrons at the instant of optical excitation is obtained in explicit form. A system of kinetic equations describing the behavior of the spin density matrix at an arbitrary relation between the average energy of charge carriers and the spin splitting is derived. It is demonstrated that, upon photoexcitation, a noticeable degree of orientation can be attained only in the pulse mode of operation, when the photoexcitation pulse duration is comparable with the period of spin precession in the field of spin splitting. It is shown that the total spin of the ensemble of electrons exhibits oscillations damping with time; the shape and damping time of the oscillations are sensitive to the parameters of photoexcitation and the spin splitting.