The flow around a four-bladed marine propeller in homogeneous inflow and in non-cavitating conditions is investigated using Large Eddy Simulation, LES. Explicit, using a k-equation eddy viscosity model, and implicit subgrid modeling are compared for both the standard LES formulation as well as a mixed formulation containing the, so called, scale similarity term. A wall-modeled approach is used on a relatively coarse grid, containing 5.5 million cells, for the full propeller in order to mimic a future applied computation including the ship hull. The implicit modeling is of particular interest in cavitation simulation, where the interaction between an explicit subgrid model and the liquid-vapor interface may cause numerical and modeling problems. All simulations yield fairly similar results, although the implicit LES gives better prediction of the global performance of the propeller. The agreement with experimental data is good close to the propeller, but the simulated flow structures diffuses quickly at the present grid resolution.