Parkinson's men will play host to Leeds at the Coral Windows Stadium in just under two weeks time in the second round of the competition. The tie will be the first time Leeds have travelled to BD8 since October 2000 when a stunning Stan Collymore overhead kick earned City a 1-1 draw in front of the Sky Sports cameras.
News of the forthcoming tie will already be causing excitement among the vast majority of Bradford City fans, and Parkinson is predicting a cracking occasion when the two neighbours collide at the end of the month.
Parkinson said: "It is a great draw for the club and for the supporters.
"There's nothing like a Yorkshire derby to whet the appetite and I am sure it is going to be a cracking atmosphere around the stadium that night.
"This draw is certainly up there in terms of one of the top ties we would have liked to have been given. This game should really capture the imagination of our fans.
"We've had some top cup nights over the years and we've got our rewards for working hard to beat Morecambe on Tuesday by getting another exciting draw.
"We will only enjoy the occasion when it comes around though - we must focus on the league beforehand.
"We have three important games between now and then and we want to be in as high a position as possible in the table going into the tie."