A novel and efficient speckle noise reduction algorithm based on Bayesian wavelet shrinkage using cycle spinning is proposed. First, the sub-band decompositions of non-logarithmically transformed SAR images are shown. Then, a Bayesian wavelet shrinkage factor is applied to the decomposed data to estimate noise-free wavelet coefficients. The method is based on the Mixture Gaussian Distributed (MGD) modeling of sub-band coefficients. Finally, multi-resolution wavelet coefficients are reconstructed by wavelet-threshold using cycle spinning. Experimental results show that the proposed despeckling algorithm is possible to achieve an excellent balance between suppresses speckle effectively and preserves as many image details and sharpness as possible. The new method indicated its higher performance than the other speckle noise reduction techniques and minimizing the effect of pseudo-Gibbs phenomena.