Loiselle played Junior "B" with the Gloucester Rangers before joining the Ontario Hockey League's Windsor Spitfires. He was chosen 23rd overall by the Detroit Red Wings in the 1981 NHL Entry Draft while he was in the midst of accumulating 291 career points with the Spits. Loiselle spent his first four years as a pro working on his game in Detroit as well as with the American Hockey League's Adirondack Red Wings.
The young forward was granted an opportunity to play full time in the NHL after he was traded to the New Jersey Devils for Tim Higgins. Loiselle was a versatile two-way forward for three years in Jersey before he was acquired by the Quebec Nordiques. He killed penalties and forechecked effectively for the Nords before he was picked up on waivers by the Toronto Maple Leafs in March 1991.
Loiselle played a solid defensive role on Toronto in 1991-92 but was traded to the New York Islanders late in the season. He was a decent checker on his new club before retiring after playing 17 games in 1993-94.
He is currently the Assistant General Manager for the Toronto Maple Leafs.