Scientists claim that because fear is a learned habit, they could be able to switch off the part of the brain that generates those emotions with a simple jab.
Early tests showed that goldfish given a dose of the drug lidocaine were unable to be scared.
Researchers in Japan say the findings, published in BioMed Central's open access journal, Behavioural and Brain Functions, would be a relief for people who suffer chronic phobias that affect their everyday lives.
Prof Masayuki Yoshida, of the University of Hiroshima, said the results of his research were exciting.
"One day, our irrational phobias could become a thing of the past," he said.
"Imagine if your fear of spiders, heights or flying could be cured with a simple injection - our research suggests that one day this could be a reality."
Prof Yoshida studied the cerebellum, which was thought to be involved with the development of fears, in goldfish and humans.
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