Sustainable development (SD) refers to development that can meet present needs, without compromising the ability of future generations to meet theirs. For global citizens to acquire and understand SD-related knowledge and cultivate the ability to apply and practice the principles of sustainability, Education for Sustainable Development (ESD) is essential. This study examines how ESD can be promoted through the Olympic Value Education Program (OVEP)—an initiative by the International Olympic Committee (IOC) for spreading the Olympic spirit. It draws inferences for addressing the shortcomings of the current ESD models. To that end, it analyzes the relationship between ESD and the OVEP, their relationships with SD, concepts, content, goals, and methods, by reviewing existing literature. The study found that the OVEP can act as a tool for ESD and has the potential to allow the effective acquisition of sustainability capabilities. Additionally, it found that since Olympic value education and SD have common goals, they can develop harmoniously to promote ESD.