We reveal the mechanism of subdiffusion which emerges in a straightforward, one dimensional classical nonequilibrium dynamics of a Brownian ratchet driven by both a time-periodic force and Gaussian white noise. In a tailored parameter set for which the deterministic counterpart is in a non-chaotic regime, subdiffusion is a long-living transient whose lifetime can be many, many orders of magnitude larger than characteristic time scales of the setup thus being amenable to experimental observations. As a reason for this subdiffusive behaviour in the coordinate space we identify thermal noise induced dynamical localization in the velocity (momentum) space. This novel idea is distinct from existing knowledge and has never been reported for any classical or quantum system. It suggests reconsideration of generally accepted opinion that subdiffusion is due to broad distributions or strong correlations which reflect disorder, trapping, viscoelasticity of the medium or geometrical constraints.