As health information privacy concern of the public raises, people are hesitant on disclosure of their private health information for personalized health services from using mobile health. The tension between personalization and privacy hinders users’ adoption of mobile health services. In this study, we draw on game theory to explain the personalization-privacy paradox in the usage of mobile health services. The results show that: (1) In a one-shot game, the strategy set of mobile health marketers and users will be contrary to their original motivations. (2) In a repeated game, collecting users’ private health information in a friendly way and disclosing private health information will be dominant strategies for both players. Managers need to pay attention to these scenarios in promoting usage of mobile health services.