Entanglement is an indispensable quantum resource for quantum information technology. In continuous-variable quantum optics, photon subtraction can increase the entanglement between Gaussian states of light, but for mixed states the extent of this entanglement increase is poorly understood. In this work, we use an entanglement measure based the Rényi-2 entropy to prove that single-photon subtraction increases bipartite entanglement by no more than log 2. This value coincides with the maximal amount of bipartite entanglement that can be achieved with one photon. The upper bound is valid for all Gaussian input states, regardless of the number of modes and the purity.