Discrete audio tokens derived from self-supervised learning models have gained widespread usage in speech generation. However, current practice of directly utilizing audio tokens poses challenges for sequence modeling due to the length of the token sequence. Additionally, this approach places the burden on the model to establish correlations between tokens, further complicating the modeling process. To address this issue, we propose acoustic BPE which encodes frequent audio token patterns by utilizing byte-pair encoding. Acoustic BPE effectively reduces the sequence length and leverages the prior morphological information present in token sequence, which alleviates the modeling challenges of token correlation. Through comprehensive investigations on a speech language model trained with acoustic BPE, we confirm the notable advantages it offers, including faster inference and improved syntax capturing capabilities. In addition, we propose a novel rescore method to select the optimal synthetic speech among multiple candidates generated by rich-diversity TTS system. Experiments prove that rescore selection aligns closely with human preference, which highlights acoustic BPE's potential to other speech generation tasks.