Parks was one of five Carlton players not offered a new deal at Princes Park beyond the 2022 season, with Jack Newnes, Will Hayes, Oscar McDonald and Liam Stocker also seeing their time with the Blues come to an end.
The 21-year-old would only feature in seven matches for the Blues' reserves during his time at Ikon Park, with injuries taking their toll on the young backman.
His tally for Carlton's VFL outfit is now set to extend next year however, with the Blues confirming Parks has joined their reserves side for 2023.
“Luke had some bad luck through injury this year, but we were really impressed with how he handled his rehab and are confident he will be ready for the 2023 VFL season,” newly appointed Carlton VFL coach Luke Power said in a club announcement.
“Being able to sign Luke shows that he believes in the direction the VFL side is heading, and he already has a head start after being immersed in the AFL program for the past two seasons.
“He has been able to build strong connections at the Club during his time with the senior side which will put him in good stead with our VFL and AFL programs working so closely throughout the year.
“We're looking forward to seeing how Luke can continue to grow as a player and expand his development, and we're excited to have him on board for another year at Carlton.”
Carlton's VFL side recorded seven wins and 11 losses this year to book themselves a spot in the top eight. They'd defeat Collingwood in the opening weeks of the finals before falling to Brisbane in a semi-final.