We describe a new path integral approach to strongly correlated fermion systems, considering the Hubbard model as a specific example. Our approach is based on the introduction of spinparticle-hole coherent states which generalize the spin-1 2 coherent states by allowing the creation of a hole or an additional particle. The action of the fermion system S[γ * , γ; Ω] can be expressed as a function of two Grassmann variables (γ ↑ ,γ ↓ ) describing particles propagating in the lower and upper Hubbard bands, and a unit vector field Ω whose dynamics arises from spin fluctuations. In the strong correlation limit, S[γ * , γ; Ω] can be truncated to quartic order in the fermionic fields and used as the starting point of a strong-coupling diagrammatic expansion in t/U (t being the intersite hopping amplitude and U the on-site Coulomb repulsion). We discuss possible applications of this formalism and its connection to the t-J model and the spin-fermion model.