Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Hi yes I am having the same problem as you are. It depends on what revision iMac G5 you have, If you have a revision "a" chances are you need to replace the bottom fan. Usually fans buzz loudly when the bearings are going bad or the fan itself is unbalanced or loose. I have googled far and wide and the only solution I can find is to buy a replacement part :(

You'll want to find out exactly what fan is the offender by opening up your iMac and putting your ear directly to each fan to find which one is making the noise and then find a proper replacement.
 
Im assuming mines a rev a, cause i took the fan out and compressed air all the dust out barley any came out and when the fan was going round it had the annoying sound. I listened and like you said its the bottom fan. where can i find one?
 
You can also grease the fan and try to get longer life out of it, but generally they will need replacement.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.