With the continuous growth of science and technology, mankind has entered the fifth-generation (5G) era. In this background, the development of many fields will face great opportunities and challenges, including the field of physical education (PE). The traditional teaching mode, method, and contents of PE are difficult to adapt to the development needs of the 5G era. Therefore, it is of great significance to study the PE teaching reform in the era of “5G education.” Moreover, integrating 5G technology and PE may benefit students, educators, and the entire PE system. This study offers an in-depth investigation of the reforms and development of PE services under the background 5G interconnected communications. The reforms of PE and services are examined using the most up-to-date 5G technologies. Four 5G methodologies which include model-based practice (MBP), virtual reality (VR), the Internet of Things (IoT), and artificial intelligence (AI) are analyzed, and for the comparative study, performance indicators such as cost reduction, energy efficiency, and security level are measured. When compared to other strategies, IoT-based physical education is found to be more efficient in terms of these parameters. The 5G-driven PE will provide students with objective, fair, and diversified education, and adaptive learning services to promote the overall development of students.