Since there is a frequency offset between each adjacent antenna of FDA radar, there exists angle-range two-dimensional dependence in the transmitter. For bistatic FDA-multiple input multiple output (MIMO) radar, range-direction of departure (DOD)-direction of arrival (DOA) information is coupled in transmitting the steering vector. How to decouple the three information has become the focus of research. Aiming at the issue of target parameter estimation of bistatic FDA-MIMO radar, a real-valued parameter estimation algorithm based on high-order-singular value decomposition (HOSVD) is developed. Firstly, for decoupling DOD and range in transmitter, it is necessary to divide the transmitter into subarrays. Then, the forward–backward averaging and unitary transformation techniques are utilized to convert complex-valued data into real-valued data. The signal subspace is obtained by HOSVD, and the two-dimensional spatial spectral function is constructed. Secondly, the dimension of spatial spectrum is reduced by the Lagrange algorithm, so that it is only related to DOA, and the DOA estimation is obtained. Then the frequency increment between subarrays is used to decouple the DOD and range information, and eliminate the phase ambiguity at the same time. Finally, the DOD and range estimation automatically matched with DOA estimation are obtained. The proposed algorithm uses the multidimensional structure of high-dimensional data to promote performance. Meanwhile, the proposed real-valued tensor-based method can effectively cut down the computing time. Simulation results verify the high efficiency of the developed method.