<b><i>Introduction:</i></b> Psoriasis is a chronic inflammatory skin disorder, affecting the trunk and extensor surfaces of the limbs and scalp predominantly. Worldwide prevalence ranges between 0.1 and 11.4%, and in India between 0.4 and 2.8%; this creates a serious health burden. Psoriasis remains a frequently encountered condition in homeopathy practice, but there is a dearth of conclusive efficacy data supporting its use. <b><i>Methods:</i></b> This 6-month, double-blind, randomized trial was conducted on 51 patients suffering from psoriasis at the National Institute of Homoeopathy, India. Patients were randomized to receive either individualized homeopathic medicines (IHMs; <i>n</i> = 25) in LM potencies or identical-looking placebos (<i>n</i> = 26). Psoriasis area and severity index (PASI; primary), psoriasis disability index (PDI), and dermatological life quality index (DLQI; secondary) were measured at baseline and every 2 months, up to 6 months. The intention-to-treat sample was analyzed using a two-way repeated measure analysis of variance. <b><i>Results:</i></b> Although intragroup changes were significant in both groups in the outcome measures, improvements were significantly higher in the IHMs group than in placebos in PASI scores after 6 months of intervention (<i>F</i><sub>1, 49</sub> = 10.448, <i>p</i> = 0.002). DLQI daily activity subscale scores also yielded similar significant results favoring IHMs against placebos after 6 months (<i>F</i><sub>1, 49</sub> = 5.480, <i>p</i> = 0.023). Improvement in PDI total (<i>F</i><sub>1, 49</sub> = 0.063, <i>p</i> = 0.803), DLQI total (<i>F</i><sub>1, 49</sub> = 1.371, <i>p</i> = 0.247), and all remaining subscales were higher in the IHMs group than placebos after 6 months, but nonsignificant statistically. <i>Calcarea carbonica</i>, <i>Mercurius solubilis</i>, <i>Arsenicum album,</i> and <i>Petroleum</i> were the most frequently prescribed medicines. <b><i>Conclusions:</i></b> IHMs exhibited better results than placebos in the treatment of psoriasis. Further research is warranted.