  Context. Emission and absorption line profiles which are formed in the
interaction of pre-main sequence (PMS) stars and their circumstellar
environment are found to be variable at various timescales. Aims. We
investigate the patterns and timescales of temporal line profile variability in
order to explore the dynamical circumstellar environment of the PMS Herbig Ae
star V351 Ori. Methods.We obtained 45 high-resolution (R~28,000) spectra of
V351 Ori at timescales of hours, days, and months.We analysed the H\alpha line
profiles and also examined the H\beta, NaD1 and NaD2 line profiles to explore
the nature of the spectroscopic variability. Results. The H\alpha line profiles
showed strong variations over all timescales. The shape of the profiles changed
over timescales of a day. Single as well as simultaneous event(s) of
blue-shifted and red-shifted transient absorption components (TACs), i.e.
signatures of outflow and infall, were also observed in the H\alpha line
profiles. The shortest period of variation in the TACs was < 1 hour. All
transient absorption events were found to decelerate with a rate of a few to
fractions of m s-2. The depth and width of the TACs were also changing with
time. The presence of elongated red-shifted components at some epochs supports
the episodic nature of accretion. Conclusions. Variable emission and absorption
components detected in H\alpha line profiles show the dynamic nature of
interaction between V351 Ori and its circumstellar environment. The H\alpha
non-photospheric profiles of the star most probably originate in the disk wind.
Episodic accretion of gaseous material at a slow rate and outflow of clumpy
gaseous material are still occurring in V351 Ori at an age of ~6.5 Myr. Dynamic
magnetospheric accretion and disk wind emerge as the most satisfactory model
for interpreting the observed line profile variations of V351 Ori.
