The magazine has lost some of its staying power since its 90s heyday, and its circulation is down 6.4% over six months and 16.4% year on year to 220,057.
The cut from £3.40 is the second aggressive move by IPC this year, following its decision to lower the price of What's on TV from 45p to 35p. IPC also this week announced a £10m launch of a pocket TV listings title, TV easy.
Loaded now sells fewer copies than friskier weekly stablemate Nuts, which sells 275,459 copies a week, and Emap's Zoo, which sells 240,215 copies.
According to Loaded publishing director Niall McKinney, the move would not only drive growth for Loaded, but re-stimulate the monthly market as a whole.
"The sales decline of the monthly men's market in the last five years has shown us that all the magazines in the sector need to deliver better value to customers," McKinney said.
Loaded's June issue, which goes on sale Wednesday May 4, will line up alongside FHM and GQ at £3.40 and Maxim at £3.30, and weeklies Nuts and Zoo at £1.20.
Loaded is fighting Maxim and Men's Health to regain its place as the second most popular monthly, which it lost in the most recent ABC circulation figures.
Market leader Emap's FHM has kept up its strong sales. Its circulation is up 1.1% over six months and down 3.5% year on year to 580,027.
Emap this week redesigned and tweaked Zoo to include more authoritative entertainment content.
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