Physical education teaching resources are an important part of teaching resources, and it is necessary to adopt a sustainable development approach to ensure the rational utilization of resources. In this paper, firstly, the factors affecting the allocation of physical education teaching resources in colleges and universities are analyzed by using principal component analysis and systematic cluster analysis, and the validity of the method is verified. Secondly, it constructs the influential element model of regional physical education teaching resources allocation efficiency level based on Tobit regression, and explores the locational factors affecting the distribution of physical education teaching resources. Finally, relevant countermeasure suggestions were put forward based on the analysis results. Using principal component analysis to downscale the 17 indicators of the influencing elements of physical education teaching resource allocation in the statistical data, four principal components were obtained, whose cumulative contribution rate was as high as 90.22%, which was greater than 85%, i.e., it had a 90.22% degree of explanation for the original data. Then, the dimensionality-decreased data were clustered and realized to evaluate and rank the allocation of physical education teaching resources in 23 sample universities. In addition, the results of Tobit multiple regression analysis showed that factors such as regional geographic location, regional population density, regional economic development and the scale of investment in physical education teaching resources all have different degrees of influence on the allocation efficiency of regional physical education teaching resources.