According to the continuum bipartite entangled state representation |η> we derive the Schmidt decomposition of |η>, respectively in the coordinate representation, momentum representation and the particle number representation, and explain their physical significances. As the applications of the Schmidt decomposition, we directly derive the action of the single-mode squeeze operator on |η>, the two-mode squeeze operator's entangled state representation, as well as the matrix element of displacement operator in the Fock space. Generalization of our discussion in this paper to the multipartite entangled state cases is feasible.