This letter deals with the joint direction of arrival and direction of departure estimation problem for overloaded target in bistatic multiple-input multiple-output radar system. In order to achieve the purpose of effective estimation, the presented Khatri-Rao (KR) MUSIC estimator with the ability to handle overloaded targets mainly combines the subspace characteristics of the target reflected wave signal and the KR product based on the array response. This letter also presents a computationally efficient KR noise subspace projection matrix estimation technique to reduce the computational load due to perform high-dimensional singular value decomposition. Finally, the effectiveness of the proposed method is verified by computer simulation.