A method of reducing noise levels in an input video signal comprising pixel data includes receiving input pixel data of the input video signal, where the input pixel data comprises luminance data and chrominance data, and estimating a noise level of the input video signal using the luminance data of the input pixel data. A plurality of filter parameters are identified based on the estimated noise level, and the input pixel data is filtered using a three dimensional spatiotemporal noise reduction filter that is controlled by a first set of the plurality of filter parameters. Thereafter, the method includes filtering the filtered input pixel data using a one dimensional temporal noise reduction filter with motion compensation that is controlled by a second set of the plurality of filter parameters, and generating a noise-filtered output video signal that includes the filtered input pixel data from the three dimensional spatiotemporal noise reduction filter and the motion compensated filtered input pixel data from the one dimensional temporal noise reduction filter.