Scientists at the University of Colorado believe an anti-inflammatory compound within the drug, CBD, could help millions of sufferers around the world.
They have begun trials on the cannabinoid, which does not cause a “high”, with 40 patients signed up for phase one.
Over the counter medication is available but they do not work for everyone, according to Inside Science.
“There’s a large segment of the population that doesn’t like using steroids,” said Robert Dellavalle from the University Of Colorado School Of Medicine.
He added: “This would be an alternative, natural product for them to try.”
CBD, one of more than 100 chemical compounds produced by the marijuana plant, has anti-inflammatory properties.
For this reason, it is believed to be helpful in treating eczema, which causes itchy, red, dry and cracked skin.
Dellavalle added: “I believe it’s a wide-open horizon with tremendous potential that needs to be investigated.
“But there are a number of regulatory hurdles that need to be overcome and that’s where we are.”
Chemicals within cannabis have medicinal properties but need more research, according to Ian Hamilton, a drug researcher at York University.
He told MailOnline: “It might be several years before this research produces medicines that can be used for conditions such as eczema.”
Oasis front man Liam Gallagher is one of around 650,000 psoriasis sufferers in the UK, while six million are affected by eczema.
Meanwhile campaigner and charities supporting multiple sclerosis sufferers are fighting to make cannabis legal.
They claim patients are forced to turn to drug dealers to obtain the drug when legal medication does not suppress their pain.
The Home Office has repeatedly said it has no plans to legalize cannabis.