A study found that the effects of the compound in magic mushrooms could last for up to a year in some people.
The researchers from the University had tracked the effects of the drugs on depression for two months.
They found that the drug could keep symptoms at bay for at least a year after two doses.
Existing treatments tend to be taken regularly, often for lengthy periods of time, and don't work for everyone.
The study was funded by Tim Ferris, a well-known investor.
The lead author of the study said that silocybin produces significant and immediate effects, and that it has a long duration.
Compared to standard antidepressants, which must be taken for long stretches of time, psilocybin has the potential to relieve the symptoms of depression with one or two treatments.
It's thought that syplocybin can act on the part of the brain that regulates mood and may disrupt negative thoughts in depression. The compound is being tested in late-stage trials elsewhere and may be available in clinics within the next five years. It is currently illegal in most places.
The results of the study were from a research setting, which required structured support from trained clinicians and therapies.
The study authors said that no participants reported use of the drug outside of the study.
The director of the neuroscience unit in the division of brain sciences at Imperial College London told Insider that the study showed the effectiveness of the drug.
The researchers used a recognized scoring system to measure the severity of 24 participants. A score of more than 24 indicated severe depression, while a score of less than seven meant no depression, according to a study published in the Journal of Psychopharmacology.
The overall score for most participants decreased from 22.8 to 7.7 after treatment.
There were no serious adverse events judged to be related to the drug during the year.
About 40% of participants received some form of therapy during the course of the year, according to Gukasyan.
Nutt said the findings didn't undermine the results but highlighted a major challenge of maintaining the effects of psychedelic treatment. Nutt said that both psychotherapy and antidepressants are safe.
There were two groups in the study, one of which received the drug immediately and the other of which had an eight-week delay. We can't tell if the reduction in symptoms happened spontaneously for some people, since both received treatment.
The study authors said more research was needed to find out if the effects lasted longer than a year.
In the US, ketamine is available to treat depression.
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