The finding contradicts the widely held belief that lubricated joints enabling mobility - called synovial joints - evolved as vertebrates ventured onto land.
For example, human knees and hips have synovial joints, which are highly susceptible to osteoarthritis.
"Developing the first arthritis model in the zebrafish - an emerging regenerative model for medical research - opens up fundamentally new approaches toward finding a cure for arthritis," said Gage Crump, from the University of Southern California.
Researchers found that certain joints in the zebrafish jaw and fins have features that resemble the synovial joints found in mammals.
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The similarity makes sense because water resistance places considerable strain on joints.
Arthritis affects more than 52 million people or about 23 per cent of adults. The number may spike to 78 million - or about 26 per cent of adults - by the year 2040, researchers said.
Using CT scans and genetic tools, the scientists noted that two other ray-finned fish - the three-spined stickleback and the spotted gar - also have synovial joints that produce a protein very similar to what lubricates joints in humans. It is aptly named Lubricin.
Previous research showed that humans and mice lacking Lubricin have poor joint lubrication and develop early onset arthritis.
Researchers found that removing the Lubricin gene from the zebrafish genome causes the same early onset arthritis in their jaws and fins.
The study appears in the journal eLife.