Which kind of noise? Water splashing or mechanical noise? If it is splashing noise, raising the water level is about all you can do. If it is mechanical noise, check the impellar and make sure there isn't a snail shell or anything in it. Which bio-wheel filter do you have, emperor or penguin? In my experience the emperor is the louder of the two.
How long has your biowheel been running? IME it takes about a month or so for the wheel to become saturated with water-bacteria-etc and to stop make the loud splashing noise. Once a biowheel is broke in, you should only be able to here the water as you would from a regular HOB filter.
I went through various levels of noise with 3 different Bio-Wheels before I just gave up and bought an Aquaclear. If noise bothers you, that's really the only solution.
I must be weird..but I have experienced absolutely no noise at all with my biowheel. The only time it splashes is when I'm late on a water change and the water level's dropped off.
If it is new, hold the BIO-Wheel by the end caps and twist it lightly. Not enough to cause it to come off the end caps, but enough to cause water to hit one side of the wheel before the other. Marineland suggests this to reduce noise.