The conventional covariance matrix technique based subspace methods, such as the 2-D Capon algorithm and computationally efficient ESPRIT-type algorithms, are invalid with a single snapshot in a bistatic MIMO radar. A novel matrix pencil method is proposed for the direction of departures (DODs) and direction of arrivals estimation (DOAs) estimation. The proposed method constructs an enhanced matrix from the direct sampled data, and then utilizes the matrix pencil approach to estimate DOAs and DODs, which are paired automatically. The proposed method is able to provide favorable and unambiguous angle estimation performance with a single snapshot. Simulation results are presented to verify the effectiveness of the proposed method.