In the field of digital holography, the speckle caused by coherent light greatly disturbs the quality of the reconstruction. This paper presents an innovative method to efficiently reduce speckle noise with a nonlocal means filter based on cosine similarity that determines the weight of each traversal pixel to the target pixel by comparing the similarity between the target pixel neighborhood and the traversal pixel neighborhood. Experimental results with qualitative and quantitative analysis indicate that the proposed method significantly improves noise reduction performance while preserving the details of the original image. Compared with other general image-processing methods, this well-directed method is more in line with the characteristics of holographic speckle noise and has obvious advantages in various metrics.