Dragon dance is originated from China and has been integrated into the system and structure of Chinese culture with its development and evolution for thousands of years. Dragon dance exercise is of great momentum, and as a symbol of spirit and value of the Chinese culture. It is also a representative totem of the Chinese culture. The main purpose of this study is to investigate the value of dragon dance in cultural innovation and transmission, schools and society, as well as in physical training and recreation. With theoretic basis on culture and sociology, as well as literature review, this study reached the conclusions as follows: 1) Dragon dance brings the spirit of solidarity of the Chinese people into full play, and demonstrates the pioneering spirit of innovation, toughness, and hardiness, which fulfills the task of cultural transmission unobtrusively and imperceptibly. 2) The educational value of dragon dance is one of the contents of physical education and extracurricular activities, which stimulates the unity and cooperation among people and conforms to the solidarity emphasized in school physical education. 3) The mutual coordination in dragon dance activities helps people to understand the importance of obeying orders and disciplines and to maintain social relationships, as well as its function and value in the coordination of social interests. 4) Dragon dance is a performance of movement skills and physique. People who participate in difficult dragon dance competitions or who appreciate the dragon dance performances of group coordination and prosodic beauty can experience its stress-releasing effect. Participants of dragon dance can feel the appreciation and affirmation from other people, which helps them enhance self-confidence, enrich their lives, and cultivate their aggressive attitudes.