Abstract: To solve the problem of target localization with sparse array in bistatic MIMO radar, a projection and Singular Value Decomposition (SVD) based Regularized Multi-vectors FOCal Undetermined System Solver (RMFOCUSS) algorithm is proposed. First the target angles with respect to receive array are estimated, and then the echoed signal is projected back to them. After an rearrangement of the projected signal, the target angles with respect to transmit array are estimated, so targets are located. SVD is utilized to reduce signal dimension and accumulate signal power, which makes traditional Compressive Sensing (CS) recovery algorithms perform better under low SNR, and computational complexity is reduced even more. Compared with existing sparse reconstruction approaches, the proposed method costs much less computation time in coping with large two dimensional scene and maintains a good performance whether the targets are relative or not.