A psychoacoustic model based noise shaping method is proposed. The method shapes the noise in the frequency domain such that its presence with a host signal will not be perceptually noticeable. The derivation of imperceptible noise levels from the masking thresholds of the signal involves deconvolution associated with the spreading function in the psychoacoustic model. It has been known as an ill-conditioned Problem. In this paper, a constrained optimization is applied such that the noise excitation level conforms to the masking thresholds of the signal. Thus, the noises embedded in the signal will not be perceived by human ear, and its performance is demonstrated experimentally.