My sony dvp-sr500h 1080p upscaling DVD player has an audio option called dynamic theater the bass is good but rear speakers are too noisy is there a way to turn down the noise of the rear speakers?

Since the signal is sent pre-mixed into the surround sound receiver as a Dolby Digital stream, you will have to turn down the rear channels at the receiver. All good receivers should have a channel level adjustment control through a menu or on the remote control.