Background: Although service-learning scholarship in physical education teacher education (PETE) programs has shown positive results, little is known about the reciprocal benefits of PETE service-learning programs on underserved students and physical education preservice teachers. Purpose: This study examined the impacts on students and teachers of integrating two physical education curricula within a service-learning program using a mixed-methods approach. Methods: A pretest--posttest design investigated changes in cardiorespiratory endurance training among students (n = 50). Reflective journals, interviews, and field notes assessed program impact on preservice teachers (n = 16). Results: Findings revealed a significant improvement in cardiorespiratory endurance among students, while qualitative data provide evidence of increases in general pedagogical content, knowledge of curriculum, and knowledge of educational contexts among teachers. Discussion/Conclusion: This study adds important reciprocity findings to PETE service-learning literature.