The disease is caused by the destruction of the protective myelin sheath that surrounds the nerves - a process known as demyelination.
A team of scientists in the US found that controlling an enzyme called MSP - myelencephalon-specific protease - could hold the key to decreasing the development of the disease.
They believe that inhibiting this enzyme could prevent demyelination.
Dr Isobel Scarisbrick, a neuroscientist and lead researcher, said: "If you could control this enzyme, you could possibly decrease the development of disease.
"Excess MSP, as is present in inflammatory central nervous system lesions such as those in MS, may promote demyelination."
"We're not reporting this as a cure, but it represents something that could be targeted for therapy. We have a lot more work to do."
Over activity
The team from the Mayo Clinic discovered that tissue that has been stripped of its myelin contains high concentrations of MSP.
Under normal circumstances, MSP plays an important role in the healthy functioning of the myelin sheath.
It only seems to become a problem when it is present at high levels.
Fellow researcher Dr Moses Rodriguez said: "This is a very important enzyme.
"It really has therapeutic potential."
Christine Jones, chief executive of the UK's MS Trust, said the preliminary results looked very encouraging.
She said: "We look forward to scrutinising the trial data in due course. This line of research is obviously offering a legitimate source of hope for people with MS."
A spokesman for the Multiple Sclerosis Society said: "These are interesting findings. Promising research which points a possible way to stop the damage causing the distressing symptoms of MS must certainly be taken further."
MS occurs most commonly in those between the ages of 20 and 40.
It is the most frequent neurological disorder in young adults in North America and Europe.
The disease is thought to be caused by a fault in the immune system.