A novel real-valued ESPRIT (RV-ESPRIT) algorithm is proposed to estimate the direction of arrival (DOA) and direction of departure (DOD) for noncircular signals in bistatic MIMO radar. By exploiting the property of signal noncircularity and Euler's formula, a new virtual array data of bistatic MIMO radar, which is twice that of the MIMO virtual array data, is established with real-valued sine and cosine data. Then the receiving/transmitting selective matrices are constructed to obtain the receiving/transmitting rotationally invariant factors. Compared to the existing angle estimation methods, the proposed algorithm has lower computational load. Simulation results confirm the effectiveness of the RV-ESPRIT.