A novel conjugate ESPRIT (C-ESPRIT) algorithm is proposed to estimate the direction of arrival (DOA) and direction of departure (DOD) for bistatic MIMO radar. It employs the properties of noncircular signals to construct a new virtual array first, the virtual antenna number of which is twice that of the MIMO virtual array. It then exploits the rotational invariance property of the new virtual array to estimate DOAs and DODs of multiple targets through ESPRIT which are paired automatically in a new way. This algorithm can provide more precise angle estimation and can detect more targets than well-known classical subspace methods. Simulation results validate these conclusions.