Hiss reduction

I am working with some music that was digitized from old reel to reel tapes. There is an ever present hiss from having to turn the tape player up very loud to compensate for the deteriorating tape and low recording volumes. I am very new to Audacity and am wondering what is the best way to reduce this hiss?
Thanks for your help!

Effects > Noise Removal

See: http://manual.audacityteam.org/man/Noise_Removal

– Bill