NOVELTY - The present invention provides an exercise training system with physiological signal measurement and oxygen concentration compensation, which mainly consists of an exercise training treadmill, a sensing unit, a wireless signal transmission unit, a signal processing unit, an oxygen supply unit and a hanging rack. The exercise training treadmill is configured with a running belt driven by a motor, and a human-man interface (screen) for displaying related exercise information. The sensing unit consists of at least one sole pressure sensing module, a stride distance and width sensing module, and a joint angle sensing module, which are respectively used to detect the sole pressure distribution, the stride distance, the stride width, and the bending angle of lower limb joints, and then transmitting each sensing signal to the signal processing unit through a wireless signal transmission unit for calculation to proceed the control of running belt speed. Moreover, the oxygen supply unit consists of an oxygen cylinder, an oxygen supply electronic pressure regulating valve, an oxygen supply mask, and an oxygen sensor, wherein the oxygen sensor is used to acquire the oxygen concentration signal, which is analyzed by the signal processing unit for the control of the oxygen supply electronic pressure regulating valve, so as to provide a training environment with high oxygen concentration. Furthermore, the hanging rack may be configured crossing the top of the running belt, and may be used to hold the user through at least one strap to prevent the danger of knee impact on the ground in case the user fell down while running. The present invention provides an exercise training system, which may monitor the physiological and gait conditions in real time, provide a real-time visual feedback function, enable the user to improve the heart and lung functions through aerobic running, alleviate the metabolized lactate accumulation in the body, and enhance the muscle endurance of lower limbs in an environment with high oxygen concentration, and may adjust the treadmill parameters according to the user's gait parameters.