The acoustoplastic effect in metals is routinely utilized in industrial processes involving forming, machining and joining, but the underlying mechanism is still not well understood. There have been earlier suggestions that dislocation mobility is enhanced intrinsically by the applied ultra-sound excitation, but in subsequent deliberations it is routinely assumed that the ultra-sound merely adds extra stresses to the material without altering its dislocation density or intrinsic resistance to deformation. In this study, dislocation dynamics simulation is carried out to investigate the interactions of dislocations under the combined influence of quasistatic and oscillatory stresses. Under such combined stress states, dislocation annihilation is found to be enhanced leading to larger strains at the same load history. The simulated strain evolution under different stress schemes also resembles closely certain experimental observations previously obtained. The discovery here goes far beyond the simple picture that the ultra-sound effect is merely an added-stress one, since here, the intrinsic strain-hardening potency of the material is found to be reduced by the ultra-sound, through its effect on enhancing dislocation annihilation.