The Bradford manager's current deal expires at the end of the season and there could be no better way of opening negotiations with Bradford's joint chairmen Julian Rhodes and Mark Lawn than on the back of another giant-killing upset.
The Bantams captured the hearts of the nation when holding their nerve to send Arsenal crashing out in an unforgettable penalty shootout in the quarter-finals and Parkinson, whose npower League Two side had already seen off Wigan, is ready to make the city proud again.
"I'd really like to stay at Bradford," said the 45-year-old former Colchester, Hull and Charlton manager.
"I had a brief chat with the chairman last week and we're going to have a sit down hopefully this week and try and get my, and the staffs', contract situation resolved.
"I think that's important because we want to bring players in and we've got a lot of players out of contract, so we're going to try and get that resolved sooner rather than later.
"I'm enjoying it here, it's a great club and we're starting to build something. Me and the staff feel that if we could get this club going it could really take off and we're just at the start of that."
Parkinson, installed as Peter Jackson's permanent successor in the summer of 2011 with the remit of steering the club out of League Two, rebuilt the whole squad during the close season and, but for a 2-0 defeat at Barnet on Saturday would be sitting in a play-off position.
Bradford are still only three points off an automatic promotion spot and Parkinson added: "Last year when we came in it was a real struggle to keep the club in the division and that was pressure. Talk about pressure (tonight), it's certainly a night to enjoy when you look at what we went through last season."