Assessment is a key element in the teaching–learning process in physical education (PE). In 2020, the Association Internationale des Écoles Supérieures d’Éducation Physique (AIESEP) published a position statement on PE assessment, in which it reviews the current state of the field and establishes the current yet forward-looking main lines of research on this topic. The most widely used approach, which this article reviews in depth, is assessment for learning (AfL). In Spain, the most widespread approach employed in PE throughout primary and secondary education in the last 25 years has been formative and shared assessment, which clearly aligns with the AIESEP position statement. The objective of this study was to gain an understanding of the main contributions of the formative and shared assessment model in PE and PE teacher education (PETE). Four databases (ERIC, SCOPUS, WOS and DIALNET) were explored, and 51 documents were selected on which an inductive thematic analysis was conducted. The evidence obtained at different educational levels and contexts seems to show a positive influence of formative and shared assessment on learning outcomes, which has favoured the expansion of the model, especially in PETE. Research on the transfer of PETE to educational practice has indicated that adequate continuing professional development seems necessary to help teachers integrate formative and shared assessment in their PE classroom. In conclusion, this model can provide an answer to some of the current questions being raised at an international level about PE assessment, especially in relation to students’ involvement in the assessment process and its role in PETE.
