A system and method can support efficient packet processing in a network environment. The system can comprise a thread scheduling engine that operates to assign a thread key to each software thread in a plurality of software threads. Furthermore, the system can comprise a pool of direct memory access (DMA) resources that can be used to process packets in the network environment. Additionally, each said software thread operates to request access to a DMA resource in the pool of DMA resources by presenting an assigned thread key, and a single software thread is allowed to access multiple DMA resources using the same thread key.