Subluxation of the peroneal tendons is uncommon. It occurs especially in skiing, soccer, basketball, rugby, ice skating, judo, sprint, water-skiing, mountaineering, and gymnastics. We present an overview of the injury, with the classification commonly used. Many surgical techniques have been described to manage recurrent subluxation of the peroneal tendons, but only Level IV/Grade C evidence has been produced. Thus, randomized controlled trials are necessary to determinate the best surgical management method. It appears that high-demand individuals should be primarily managed surgically, and retinaculoplasty seems to be, when indicated, the best surgical option: it affords less complications and a high rate of return to sports without reducing their activity levels.