Peder Pedersen was world champion in 1974 and twice ( 1970 in the amateurs and 1975 in the professionals) vice world champion in the sprint and in 1971 in the 1000-meter time trial at UCI track world championships between 1969 and 1975 and also European champion in sprint in 1975. He also took part in the Olympic Games in 1964 , 1968 and 1972 ; In 1968 he won the gold medal with the Danish four-wheeler . He was ten times Danish champion in sprint (amateurs and professionals) and once Danish champion each in the 1000-meter time trial and with the four-wheeler. On June 27, 1974, he set a world record of 1: 07.49 minutes in Rome over 1000 meters with a standing start.
During his career as an active athlete, Pedersen went into the police force and rose to head of the Funen traffic police .
From 1977 to 1992 Pedersen was also national coach of the Danmarks Cykle Union (DCU), from 1977 to 1990 also a board member of the DCU and finally its president from 1990 to 2006. From 1993 to 1997 he was also a member of the amateur board of the Union Cycliste Internationale and, since 2005, its management committee.
The Danish championship in sprint for professionals was not held continuously. From 1994, after the separation of amateurs and professionals, the riders belong to the elite.