This paper investigates the de-vice-to-device (D2D) communication under-laying cellular network assisted by a two-way decode-and-forward relay node. We assume the base station (BS) is equipped with M-antenna and serves its own cellular user while the D2D users communicate via a two-way decode-and-forward relay node. Both beam-forming (BF) and interference cancellation (IC) strategies at the BS are considered to im-prove the performance for the cellular link and D2D link, respectively. We first analyze the re-ceived signal-to-interference-plus-noise for the cellular link under BF and IC strategies and then derive the exact closed-form expressions for the cellular link. Asymmetric and symmet-ric cases are discussed for various locations of each user. Finally, the approximations for high signal-to-noise regime are also presented. Numerical results demonstrate the accuracy of the analytical and asymptotic results.