We formulate a superexchange theory of insulating double-perovskite compounds such as Sr$_2$FeWO$_6$. An effective spin-orbital Hamiltonian is derived in the strong coupling limit of Hubbard model for d-electrons on Fe and W ions. The relevant degrees of freedom are the spins S=2 and the three-fold orbital degeneracy of Fe$^{2+}$-ions. W-sites are integrated out by means of a fourth-order perturbative expansion. The magnetically and orbitally ordered ground states of the effective Hamiltonia n are discussed as a function of the model parameters. We show that for realistic values of such parameters the ground state is antiferromagnetic, as experimentally observed. The order found is of type-II, consisting of {111} ferromagnetic planes stac ked antiferromagnetically. The orbital order energy scale found is one order of magnitude less than the spi n one.
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