Extra-cavity synchronous intensity modulation is a straightforward and effective approach to suppress the full-bandwidth relative intensity noise (RIN) for noise-like pulse (NLP) fiber lasers. In this work, the picosecond NLPs are produced by a homemade Er/Yb co-doped mode-locked fiber laser and subsequent optimized by the synchronous intensity modulation device. The photodetector (PD) and electro-optical modulator (EOM) allow the real-time measurement and modulation for each optical pulse. A detailed description of key parameters for components is presented. The impact of DC bias voltage and RF signal amplitude on resulting RIN is experimentally investigated. We demonstrate a noteworthy reduction in RIN from 5.62% before synchronous intensity modulation to 1.91% afterward. Numerical investigations suggest that this method is potential to suppress RIN to below 1% under ideal conditions. The key factor in RIN reduction is correct operating region and high photoelectric-conversion linearity. The synchronous intensity modulation is an effective method to obtain low-RIN NLP laser sources, valuable for some practical applications.