The rapid pace of modern urbanization and fast-paced city life has increased the risk of mental illness and chronic disease among urban residents. Studies indicate that exposure to restorative natural environments and physical activity are both crucial in promoting residents’ physical and mental health, and green exercise is an emerging area that integrates the two. This study thoroughly examined the walking and running exercise zones of typical sports parks in Hangzhou, utilizing immersive virtual reality technology to establish a highly engaging experimental environment. Using the SPSSAU platform, statistical methods including box-and-line plot analysis, repeated measures ANOVA, main effects analysis, interaction effects analysis, Bonferroni post-hoc multiple comparisons, and simple effects analysis were implemented to investigate the effects of three levels of green visibility and three forms of contact on the restorative benefits of green exercise. The findings reveal that both the level of green visibility and the form of contact influence restorative benefits to varying degrees and are essential factors affecting the restorative aspects of green exercise. There exists a synergy between the interaction effects of green visibility level and contact form on these restorative benefits. This research employs immersive virtual reality technology to enhance the ecological validity of the experiment while maintaining precise control of the green visibility level, aiming to comprehensively explore the relationship between exposure to the natural environment and the development of physical activity. This innovative approach seeks to establish a reference for the green visibility standard aimed at improving the restorative benefits of exercise environments in sports parks.