Compositions and methods for the treatment of premature ejaculation have been developed. It has been discovered that premature ejaculation can be treated by administering a local anesthetic to the glans penis. The local anesthetic may be formulated as an emulsion, lotion, paste, gel, cream, ointment, shea butter, suspension, solution, balm, salve, foam, or in the form of a pump spray to achieve local anesthesia of the dorsal neurons of the penis.