We study the dynamics of the excitable Fitz Hugh-Nagumo system under e
xternal noisy driving. Noise activates the system producing a sequence
of pulses. The coherence of these noise-induced oscillations is shown
to be maximal for a certain noise amplitude. This new effect of coher
ence resonance is explained by different noise dependencies of the act
ivation and the excursion times. A simple one-dimensional model based
on the Langevin dynamics is proposed for the quantitative description
of this phenomenon.