Physical education has been experiencing marginalization for some time regardless of repeated efforts of revitalization. One important reason is that the content has been de-valued and regarded as inconsistent with the mission of schooling. This article attempts to advocate the adoption of a concept-based approach to curriculum and content development in physical education. Based on research findings and literature, the article first provides an overview of curriculum issues from the historical and contemporary perspectives. It then discusses the possibility of reconceptualizing the curriculum from a concept-based approach which is based on the tenets of physical literacy. Lastly, the article argues for focusing on the knowledge and relevant skill learning to help the learner acquire necessary competence for physically active lifestyle from the monism and lifecourse perspectives. It is expected that the article can inspire constructive discussions about physical education curriculum reform among practitioners as well as scholars.