A method and system for providing a sound source suitable for an exercise state of a user by recognizing the exercise state of the user by measuring heart rate and exercise speed of the user. The method includes: determining a standard heart rate; measuring a heart rate of a user; measuring an exercise speed of the user; comparing the measured heart rate and the standard heart rate; when a difference between the both heart rates is more than a predetermined value, generating compensated exercise speed information based on the difference and the measured exercise speed; and replaying a sound source according to the compensated exercise speed information. According to the exercise state management method, heart rate suitable for the type, intensity, or time of exercise selected by the user and a sound source suitable for exercise speed are provided, thereby improving satisfaction and effectiveness of the exercise.