The purpose of the study is to conduct a comprehensive review of public-private partnership (PPP) literature that pertains to promoting physical activity. A qualitative systematic review guided data search and screening process, and the findings were synthesized and interpreted using a qualitative content analysis method. Literature was searched from 16 academic and 6 gray literature databases. A total of 1,117 articles were initially searched, full texts of 186 articles were assessed, and 13 articles that met the inclusion criteria were finally included. PPPs have been initiated in various contexts including implementing the pledge policy, program coordination, and infrastructure supports. Public-sector partners were identified in a range of vertical and horizontal levels. Private partners were mainly manufacturers and/or retailers related to physical activity, sport facility operators, professional sport teams, or companies for providing infrastructures for active transportation. Public and private organizations have performed various roles of funding the initiatives, developing and implementing diverse resources, and taking actions to deliver benefits to the communities. Several challenges were reported when developing, implementing, and evaluating the partnership initiatives. The outcomes of the current review can be utilized to anticipate pragmatic issues when public and private partners jointly participate in physical activity promotion.