Owls make almost no noise when gliding, thanks to the unique feather structure at the tail of their wings. Drawing on the tail structure of the owl wings, the trailing edge of the duct in the pump-jet propulsor (PJP) system is improved. Based on the detached eddy simulation method, the influence of serrated trailing edge on the pulsating pressure and noise performance of a PJP under submarine self-propulsion conditions is numerically analyzed. The results show that the influence of the serrated trailing edge on the self-propulsion performance is negligible. The serrated trailing edge destroys the large-scale duct-induced vortices in the spanwise direction, and additional secondary vortices are formed in the wakefield, increasing the pulsating pressure of the downstream flow field. The pulsation amplitude of each order at the downstream monitoring point of the serrated duct PJP (SD-PJP) model is significantly greater than that of the benchmark PJP (BM-PJP) model. The serrated trailing edge can effectively reduce the noise of PJP. The maximum noise reduction in the axial and radial planes is 1.23 and 0.91 dB.