A formulation for topical application to humans includes an emulsion of micelles in a lipid phase dispersed in an aqueous phase. Each micelle has cannabidiol (CBD) oil and at least one surfactant, and each micelle has a diameter less than about 100 nanometers, and preferably less than 10 nanometers. The CBD oil is present in a range of 3 mg to 100 mg per fluid ounce (30 ml) of emulsion. The aqueous phase includes a mixture of water and polyols or alcohols. The formulation is made by mixing the surfactant and cannabidiol (CBD) oil in a disperse phase, mixing an aqueous phase comprising the water and polyols or alcohols, heating the disperse phase and aqueous phase to about 80 degrees centigrade, slowly transferring the disperse phase into the aqueous phase with moderate sheer and agitation to form the emulsion； and cooling the emulsion to less than 50 degrees centigrade while maintaining a slow to moderate mixing speed.
