Olympic education and Olympic education is considered and analysed interpretation of terms. Works of modern theorists of physical training and a pedagogical science are considered. It is specified, that for avoidance of terminological interpretations it is necessary and expediently in interpretation of terms to display conceptual essence of pedagogical categories "education" and "education". Olympic education - pedagogical process which is directed on reception, noegenesis of Olympic subjects. Olympic education is a process of forming of the person on the basis of Olympic principles, Olympic values and an Olympic ideal.