Employment issue is an important national challenge, especially among university graduates, in the upcoming decade. Therefore, identifying and developing characteristics related to entrepreneurship has a considerable importance, especially among physical education graduates. The main goal of the present study was to identify effective factors on entrepreneurship of physical education graduates. This descriptive-analysis study was of exploratory type which was done as a field research. The statistical population included 11 faculties of physical education in Iran from 2003 to 2008, the number of which was 4235 people. According to the statistical estimation, the sample size was obtained as 200 people. Cronbach’s alpha coefficient (Ra =0.887) was used in this research to estimate validity of the questionnaire. Since the mentioned questionnaire was provided based on the identified factors affecting entrepreneurial of physical education graduates in research background and expert’s opinions, therefore, the validity of the questionnaire was confirmed spontaneously. Thus, in this study, similar investigations were examined and views of experts were used by Delphi method in order to identify the factors which affect entrepreneurship of physical education graduates in six psychological, demographic, educational, administrative, environmental and professional competence dimensions. Using statistical methods, the effectiveness of these factors was confirmed and, finally, some suggestions were presented according to the performed analyses.