The terms "Olympic education" and "Olympism" encompass a variety of educational initiatives aimed at children and youth in school and community settings, in addition to courses taught under the heading of Olympic Studies in college and university institutions. In this article, a critical analysis of these initiatives is presented, as well as reviewing the relevant secondary literature, including the small but significant number of research studies that develop a genuine critique of Olympic education and Olympism. The mythology surrounding idealistic Olympic education is exposed, with a focus on the generally unquestioned value of Olympism as a key tool in character-building and moral education. Recent examples from resources developed in the United Kingdom, United States, Canada, Australia and New Zealand are examined, and implicit and explicit corporate messages embedded in these materials are identified and critiqued. Recommendations are made for progressive educators whose goal it is to challenge Olympic industry hegemony in schools, colleges and universities. (Contains 7 notes.)