Prostate cancer is the leading cause of death for men, since the cause of the disease is mysterious and its early detection is also monotonous. Ultrasound (US) is the most popular tool to detect the human organ glands and also used to diagnose the prostate cancer. Speckle noise is an inherent nature of ultrasound images, which degrades the image quality. So far, No specific filter is available to suppress the speckle noise in prostate image. In this paper, a novel despeckling method PDE with Wavelet is presented for prostate US images. The enhancement method is evaluated by using standard measures like Mean Square Error (MSE), Peak Signal Noise Ratio (PSNR) and Edge Preservation Index (EPI). Further, the despeckling approaches' is also evaluated time and space complexity. From the results, it is observed that the filtering method PDE with Wavelet is superior to PDE in terms of denoising and also preserving the information content.