Making full use of the virtual aperture expansion property with the sparse array MIMO radar, we can achieve positive contributions for the parameter estimation. In this paper, we focus on the design of sparse array Multi-Input Multi-Output (MIMO) radar and the optimization of conventional algorithms. According to joint subspace-based method and compressive sensing (CS) theory, we study the analysis and design of sparse arrays, direction of arrival estimation, and joint angle estimation for better performance and low complexity, which target at building the systematic parameter estimation theory for sparse array MIMO radar. Finally, combining with the aspects of array optimization design, mixed target parameter estimation, non-ideal factor suppression and distributed platform construction, future development trend of sparse array MIMO radar is prospected.