In this paper, we investigate the problem of the heavy computational burden of the direction-of-arrival (DoA) estimation for the noncircular (NC) signals. A novel low-complexity direction-of-arrival estimation algorithm for NC signals via subspace rotation technique (SRT) is proposed. The proposed algorithm divides the noise subspace matrix along its row direction into two submatrices, and the SRT is performed to get a new reduced-dimension noise subspace. Then, utilizing the separation of variables and the orthogonality between the reduced-dimension noise subspace and the space spanned by the columns of the extended manifold matrix, a new one-dimensional spectral search function is derived to estimate DoAs. As the size of the block matrices of the noise subspace matrix has a great impact on the computational complexity of the spectral search, the optimal number of rows of the block matrices is determined. The proposed algorithm not only avoids the two-dimensional spectral search but also efficiently removes the redundancy computations in the one-dimensional spectral search. Theoretical analysis and simulation results show that the proposed algorithm can significantly improve the computational efficiency on the premise of ensuring the accuracy of DoA estimation for the NC signals, especially in scenarios where large numbers of sensors are applied.