In this case ethoxide ion will behave as a strong base
ethanol is a very weak acid as compared to water..so it's conjugate base the ethoxide ion will be a stronger base than OH-
So it will accept the proton from ethanol to form ethanol..
C°2H5O- + C2H5OH → C2H5O- + C°2H5OH
where C° crbon came from ethoxide ion..