In the process of the intelligent inspection of belt conveyor systems, due to problems such as its long duration, the large number of rollers, and the complex working environment, fault diagnosis by acoustic signals is easily affected by signal coupling interference, which poses a great challenge to selecting denoising methods of signal preprocessing. This paper proposes a novel wavelet threshold denoising algorithm by integrating a new biparameter and trisegment threshold function. Firstly, we elaborate on the mutual influence and optimization process of two adjustment parameters and three wavelet coefficient processing intervals in the BT-WTD (the biparameter and trisegment of wavelet threshold denoising, BT-WTD) denoising model. Subsequently, the advantages of the proposed threshold function are theoretically demonstrated. Finally, the BT-WTD algorithm is applied to denoise the simulation signals and the vibration and acoustic signals collected from the belt conveyor experimental platform. The experimental results indicate that this method’s denoising effectiveness surpasses that of traditional threshold function denoising algorithms, effectively addressing the denoising preprocessing of idler roller fault signals under strong noise backgrounds while preserving useful signal features and avoiding signal distortion problems. This research lays the theoretical foundation for the non-contact intelligent fault diagnosis of future inspection robots based on acoustic signals.