This paper reports a numerical study of a novel methodology for passive suppression of deep cavity noise by means of strategically designed and arrangements of multiple elastic panels and examines its underlying aeroacoustic–structural interaction physics. The study is conducted with a freestream, at Mach number 0.09 and Reynolds number of 4 × 104 based on the cavity length, past a two-dimensional cavity by means of direct aeroacoustic simulation coupled with a panel dynamic solver in monolithic fashion. For each cavity-panel configuration, the fluid-loaded panel natural frequencies are harmonized with the characteristic aeroacoustic processes of the original/modified cavity aeroacoustic feedback loop. This promotes panel aeroacoustic-structural resonance for absorption of feedback flow and acoustic fluctuation energy for achieving less eventual cavity noise. The most effective configuration gives a remarkable noise power reduction by 15 dB from a rigid cavity. Inadvertently, it reduces cavity drag by almost 15%. Simultaneous reduction of both cavity noise and drag is unprecedented among similar attempts in the literature. In-depth spatiotemporal analyses of aeroacoustic–structural interaction results elucidate the intricate interplay between cavity flow, panel vibration responses, and cavity acoustic modes, leading to noise reduction in all cavity-panel configurations studied. Essentially, the vertical panel acts to curtail the efficacy of coupling between growing shear layer and cavity acoustic modes whose sustenance is further impeded by an acoustically induced resonant panel at the cavity bottom. The proposed methodology is confirmed to be feasible yet effective, which holds great potential for fluid-moving applications in which a quiet and energy-efficient cavity configuration is desired.