A goal from Jonathan Biabiany in the 37th minute gave the Gialloblu a perfect end to the season and sealed an eighth-place finish for Roberto Donadoni's men.
The Gialloblu finished level on 56 points with seventh-place Roma.
Bologna, meanwhile, ended their campaign five points adrift of Parma in ninth position.
Marco Di Vaio played his last Serie A game and was given a standing ovation after he was substituted in the 70th minute.
The Bologna captain, who played two seasons at Parma, is set to move to Major League Soccer in the United States.
The hosts had the first chance in the ninth minute but Massimo Gobbi's header from Jonathan's cross was off target.
Di Vaio came close to giving Bologna a 17th-minute lead but his six-yard attempt went just wide of the far post.
Parma threatened midway through the first half when Jaime Valdes fed Sebastian Giovinco on the edge of the area.
His right-footed attempt, however, was kept out by Bologna goalkeeper Federico Agliardi.
Giovinco then turned provider and fed Alessandro Lucarelli in the box only for his close-range shot to be saved by Agliardi.
The hosts took a deserved lead when Biabiany got past his marker and headed Giovinco's cross into the back of the net.
Parma almost doubled their lead in the 56th minute but Agliardi parried away Sergio Floccari's goal-bound shot.
The visitors should have equalised nine minutes from time but substitute Ishak Belfodil nodded Alessandro Diamanti's dangerous cross just wide of Parma goalkeeper Nicola Pavarini.
Neither Parma nor Bologna finished high enough in the table to play in Europe next season but the fans of both clubs will have high expectations heading into the 2012-13 campaign.