Abstract: The management system represents both a focal point and a major challenge in the comprehensive deepening of sports reform. Based on critical organizational transformations during institutional restructuring, the evolution of China’s sports management system can be categorized into four distinct phases: a decentralized model shaped by the legacy of “red” sports, the whole-nation system under the planned economy system, a dual-track management system, and a new system for mobilizing resources nationwide emerging in the context of intensified reform efforts. Guided by meta-governance theory, this study examines the factors influencing sports management system reform—driven by shifts in the external environment and constrained by internal structural tensions—and identifies key challenges. It further outlines fundamental principles that should guide practical reform initiatives and explores the normative path for organizational and institutional innovation within the sports system. The study proposes accelerating the transformation of the administrative functions of sports authorities in three key areas: public service delivery, policy planning, and oversight of the sports industry. Resource allocation within public sports institutions should be optimized by restructuring sport-specific administration centers and advancing the separation of ownership and operational rights in public sports venues. In line with reform objectives emphasizing “five separations, five standardizations”, efforts should be made to advance the substantive development of sports federations at all levels, national sport-specific associations, and the Chinese Olympic Committee. These steps will help integrate vertical hierarchical coordination with horizontal networked collaboration, thereby promoting high-quality development in mass sports, competitive sports, youth sports, and the sport industry.