He had asked for a raise from $502,000 to $2.7 million when arbitration figures were exchanged last month, and the Diamondbacks had offered $2.1 million. The agreement was announced Tuesday.
The 25-year-old is expected to fill in at all outfield positions again this season. The strong-armed Gold Glove winner in 2011 has 37 assists since '09, second to Hunter Pence's 47 among NL outfielders.
Parra hit .273 with 21 doubles, seven home runs and 36 RBIs in 133 games last year. He made 90 starts, 44 in center, 33 in left and 13 in right.
He is on Venezuela's roster for the World Baseball Classic.