This first volume is concerned with the analytic derivation of explicit formulas for the leading-order Taylor approximations of (local) shastic invariant manifolds associated with a broad class of nonlinear shastic partial differential equations. These approximations take the form of Lyapunov-Perron integrals, which are further characterized in Volume II as pullback limits associated with some partially coupled backward-forward systems. This pullback characterization provides a useful interpretation of the corresponding approximating manifolds and leads to a simple framework that unifies some other approximation approaches in the literature. A self-contained survey is also included on the existence and attraction of one-parameter families of shastic invariant manifolds, from the point of view of the theory of random dynamical systems.