Abstract Physical education resources as an important part of college sports resources is an important guarantee for the implementation of physical education, along with the diversified development of students’ needs, to ensure that the development of physical education resources to improve the level of physical education has become a common area of concern in the field of physical education. Under the guidance of the concept of lifelong sports, this study summarizes the level of sports value and analyzes it in depth from five aspects, including fitness value, heart value, social value, educational value, and cultural value. Then, the physical education resources are categorized and integrated according to the needs of the development of physical education resources. On this basis, three filters of educational philosophy, learning theory, and teaching theory are designed to guarantee the feasibility and practicability of developing physical education resources. On the principle of ensuring systematicity, operability, scientificity, and pertinence, the operation mode of physical education resources opening for colleges and universities was established. Through the analysis of the value of resource development, it can be seen that the basis of the educational value of the adolescent period occupies a dominant position, with an average score of 4.12. Next, the average score of all aspects of the value of sports in the youth period is more than 4. The adolescent and youth periods have the highest average number of physical education resource activities, as measured by the number of 5.725 and 5.300 times, respectively. This study proves the necessity and important value of the development of physical education resources in colleges and universities, provides an effective strategy and development model for the development of physical education resources in colleges and universities, and provides theoretical guidance for the development of physical education in colleges and universities under the concept of lifelong sports.