But the NHS itself says: "There is no good-quality evidence that homeopathy is effective as a treatment for any health condition."
The Good Thinking Society has been campaigning for homeopathy to be added to the NHS blacklist - known formally as Schedule 1 - of drugs that cannot be prescribed by GPs.
Drugs can be blacklisted if there are cheaper alternatives or if the medicine is not effective.
After the Good Thinking Society threatened to take their case to the courts, Department of Health legal advisers replied in emails that ministers had "decided to conduct a consultation".
Officials have now confirmed this will take place in 2016.
Simon Singh, the founder of the Good Thinking Society, said: "Given the finite resources of the NHS, any spending on homeopathy is utterly unjustifiable.
"The money spent on these disproven remedies can be far better spent on treatments that offer real benefits to patients."
But Dr Helen Beaumont, a GP and the president of the Faculty of Homeopathy, said other drugs such as SSRIs (selective serotonin reuptake inhibitors) for depression would be a better target for saving money, as homeopathic pills had a "profound effect" on patients.
She told the BBC News website: "Patient choice is important; homeopathy works, it's widely used by doctors in Europe, and patients who are treated by homeopathy are really convinced of its benefits, as am I."
The result of the consultation would affect GP prescribing, but not homeopathic hospitals which account for the bulk of the NHS money spent on homeopathy.
Estimates suggest GP prescriptions account for about £110,000 per year.
And any decision would not affect people buying the treatments over the counter or privately.
Health Secretary Jeremy Hunt was criticised for supporting a parliamentary motion on homeopathy, but in an interview last year argued "when resources are tight we have to follow the evidence".
Minister for Life Sciences, George Freeman, told the BBC: "With rising health demands, we have a duty to make sure we spend NHS funds on the most effective treatments.