Aeroacoustic noise in multiple rotor drones has been increasingly recognized as a crucial issue, while noise reduction is normally associated with a trade-off between aerodynamic performance and sound suppression as well as sound quality improvement. Here, we propose an integrated methodology to evaluate both aeroacoustics and psychoacoustics of a single propeller. For a loop-type propeller, an experimental investigation was conducted in association with its aerodynamic and acoustic characteristics via a hover stand test in an anechoic chamber; the psychoacoustic performance was then examined with psychoacoustic annoyance models to evaluate five psychoacoustic metrics comprising loudness, fluctuation strength, roughness, sharpness, and tonality. A comparison of the figure of merit (FM), the overall sound pressure level (OASPL) and psychoacoustic metrics was undertaken among a two-blade propeller, a four-blade propeller, the loop-type propeller, a wide chord loop-type propeller, and a DJI Phantom III propeller, indicating that the loop-type propeller enables a remarkable reduction in OASPL and a noticeable improvement in sound quality while achieving comparable aerodynamic performance. Furthermore, the psychoacoustic analysis demonstrates that the loop-type propeller can improve the psychological response to various noises in terms of the higher-level broadband and lower-level tonal noise components. It is thus verified that the integrated evaluation methodology of aeroacoustics and psychoacoustics can be a useful tool in the design of low-noise propellers in association with multirotor drones.