Nowadays, the electrocardiogram (ECG) is still the most widely used signal for the diagnosis of cardiac pathologies. However, this recording is often disturbed by the powerline interference (PLI), its removal being mandatory to avoid misdiagnosis. Although a broad variety of methods have been proposed for that purpose, often they substantially alter the original signal morphology or are computationally expensive. Hence, the present work introduces a simple and efficient algorithm to suppress the PLI from the ECG. Briefly, the input signal is decomposed into four Wavelet levels and the resulting coefficients are thresholded to remove the PLI estimated from the TQ intervals. The denoised ECG signal is then reconstructed by computing the inverse Wavelet transform. The method has been validated making use of fifty 10-min length clean ECG segments obtained from the MIT BIH Normal Sinus Rhythm database, which were contaminated with a sinusoidal signal of 50 Hz and variable harmonic content. Comparing the original and denoised ECG signals through a signed correlation index, improvements between 10 - 72% have been observed with respect to common adaptive notch filtering, implemented for comparison. These results suggest that the proposed method is featured by an enhanced trade-off between noise reduction and signal morphology preservation.