A composition comprising a combination of N-Phenylacetyl-L-prolylglycine ethyl ester and cannabidiol for oral administration to humans and other animals and a method for administering said composition are described. The composition provides synergistic nootropic benefits to the user, resulting in enhanced cognitive functions, such as increased focus, creativity, memory recall, and memory consolidation, among other cognitive functions. The composition generally does not cause side effects in the users and generally does not cause the user to develop tolerance to its nootropic effects. The composition optionally comprises a compound containing choline or a choline prodrug to supply choline to the brain of the user for the production of the neurotransmitter acetylcholine, and may also optionally comprise caffeine.