We extend the quantum discord to continuous variable systems and evaluate Gaussian quantum discord C(ϱ) for bipartite Gaussian states. In particular, for squeezed-thermal states, we explicitly maximize the extractable information over Gaussian measurements: C(ϱ) is minimized by a generalized measurement rather than a projective one. Almost all squeezed-thermal states have nonzero Gaussian discord: They may be either separable or entangled if the discord is below the threshold C(ϱ) = 1, whereas they are all entangled above the threshold. We elucidate the general role of state parameters in determining the discord and discuss its evolution in noisy channels.