Sebastian Giovinco broke Juventus' 18-game unbeaten run with two goals.
A goal on either side of half-time from the 23-year-old combined with a Hernan Crespo penalty seconds after a successful Nicola Legrottaglie header and a late Raffaele Palladino strike helped the Gialloblu gain maximum points against Juventus, who were reduced to ten men in the early minutes after Felipe Melo was sent off.
The match commenced on an ominous note for Juventus as Fabio Quagliarella was substituted by Amauri after just six minutes when he twisted his knee after a challenge from Massimo Paci.
Things catapulted from bad to worse for the Bianconeri on 17 minutes when Felipe Melo was shown a straight red card for dangerous play. After Paci and he had tussled and gone down together, the Brazilian kicked at the Parma's defender's face and paid the penalty.
However, Luigi Del Neri's side didn't crumble rightaway and had the ball inside the net in the 24th minute. Alessandro Del Piero's delivery was claimed on the goalline by Antonio Mirante but Giorgio Chiellini scrapped ball in, only for the referee to rule out the goal.
As a matter of fact, it was the Ducali who went into the half-time interval with smiles on their face as Giovinco scored against the club that co-owns him.
Parma weaved a quick move that saw the ball spread from the centre to the far right from where Cristian Zaccardo delivered an exquisite cross. The initial header from Massimo Gobbi was spectacularly saved by Marco Storari but Giovinco rushed with force to slot the ball home from just yards out.
Giovinco struck gold minutes after the re-start when he doubled Parma's lead against the side who let him leave in the summer. The Italian shot home Francesco Valiani's ball from the centre of the Juventus penalty box to the bottom right corner.
However, things turned fenetic a minute before the hour-mark when Pepe's free-kick hit the Parma post. Seconds later the home side halved the deficit as Legrottaglie headed home a brilliant Alberto Aquilani delivery from close range.
But Juventus' hopes for a comeback proved to be ephemeral when Crespo, tripped inside the penalty area by Chiellini just a minute later, slotted home the subsequent spot-kick to put the result beyond doubt.
Palladino put the icing on the cake in injury time when he shot home a Zaccardo pass from close range seconds after Toni Calvo had failed to score from a couple of yards out.
The 4-1 defeat for Juventus means that their run of 13 league matches without defeat has now come to an end. As for Parma, it was only their second victory on the road in Serie A this season but one that was deserved after having prepared for this match since New Year's Day.