Many drugs have been studied for treating tinnitus. For some, treatment with low doses of anti-anxiety drugs -- such as Valium or antidepressants such as Elavil -- help reduce tinnitus. The use of a steroid placed into the middle ear along with an anti-anxiety medicine called alprazolam has been shown to be effective for some people. Some small studies have shown that a hormone called misoprostol may be helpful in some cases.