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In this paper, we propose a multiple-level power allocation strategy for the secondary user (SU) in cognitive radio (CR) networks. Different from the conventional strategies, where SU either stays silent or transmit with a constant/binary power depending on the busy/idle status of the primary user (PU), the proposed strategy allows SU to choose different power levels according to a carefully designed function of the receiving energy. The way of the power level selection is optimized to maximize the achievable rate of SU under the constraints of average transmit power at SU and average interference power at PU. Simulation results demonstrate that the proposed strategy can significantly improve the performance of SU compared to the conventional strategies.