Key points from article :
Induced pluripotent stem cell (IPS/iPSC) technique used based on Yamanaka factors, which itself is based on research used in Dolly the sheep.
By cutting short the chemical bath from 50 days to around 12 days, instead of reverting to embryonic stem cells they were rejuvenated.
53-year-old skin cells looked and behaved as if they came from a 23-year old.
This is known as a maturation phase transient reprogramming (MPTR) method.
The head of the team, Prof Wolf Reik, told BBC News that he hoped that the technique could eventually be used to keep people healthier for longer as they grow older.
"Many common diseases get worse with age and to think about helping people in this way is super exciting," he said.
Several scientific issues need to be overcome before it could move into the clinic, including the increased risk of cancers using the IPS method.
First applications could be to develop medicines to rejuvenate skin in older people in parts of the body where they have been cut or burned - as a way to speed up healing.
The eventual aim is to develop treatments for age-related diseases such as diabetes, heart disease and neurological disorders.
Research by Babraham Institute in Cambridge publish in eLife.
