Parcell was a Dream Team member and Grand Final winner for Leeds three years ago, but moved to East Yorkshire midway through 2019.
The Australian said: "It's good to get it all sorted.
"It has been an interesting year and everyone’s had to roll with the punches, but it's been good to get the deal over the line."
Parcell added: "Since we've come back the last couple weeks have been disappointing, but the months previous we have been playing some really good footy.
"As a team we are going to gain valuable experience over the next few months and that's going to put us in good stead going forwards.
"Tony (Smith, Rovers' coach) is very very good at bringing out the best in players and making them feel confident on the field.
"He makes them play to the best of their ability and it's fantastic to see.
"Over the coming months everyone is going to get a lot more game time and the experience that they are going to get will be really valuable."
Parcell described his time at Rovers as "really enjoyable".
He said: "To start with I had a few good games then got a couple serious injuries, but I feel really good now.
"I feel like I'm in really good shape, really good head space and I feel like I can get back to playing my best footy at Rovers and under Tony.
"Hopefully, fingers crossed, I can stay injury free and play some really good rugby."
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