  We show that U(1) Yang-Mills theory on noncommutative R^4 can be renormalized
at the one-loop level by multiplicative dimensional renormalization of the
coupling constant and fields of the theory. We compute the beta function of the
theory and conclude that the theory is asymptotically free. We also show that
the Weyl-Moyal matrix defining the deformed product over the space of functions
on R^4 is not renormalized at the one-loop level.
