Nicotinamide is a water‐soluble vitamin B3 derivative that has many roles in medicine. This review examines the role of nicotinamide in dermatology and its actions in preventing photoageing and skin cancers in humans. Nicotinamide prevents ultraviolet radiation (UV) from reducing ATP levels and inhibiting glycolysis, thus preventing the UV radiation‐induced energy crisis. This enhances DNA repair and reduces UV‐induced suppression of immunity. Randomised controlled clinical trials have also shown that nicotinamide reduces transepidermal water loss and the development of new non‐melanoma skin cancers in high‐risk humans. This review also examines nicotinamide's safety profile.