Career
Real Madrid
Born in Coslada, Community of Madrid, Parejo was a product of Real Madrid"s youth academy, joining at the age of 14. He was called on several occasions by first-team coach Bernd Schuster to train with the seniors and, during the 2006-2007 season, played four games for Real Madrid Castilla in Segunda División. On 17 December, Real Madrid officially recalled the player from his loan effective 1 January 2009, after first-team midfielders Rubén de la Red and Mahamadou Diarra were both out for the season with various physical problems.
Parejo was given the squad number 17, which had previously been assigned to Ruud van Nistelrooy, who was also out for the remainder of the campaign due to a serious injury.
Getafe
In late July 2009, as Esteban Granero was re-bought from Getafe CF, Parejo went in the opposite direction with Real, as in Granero"s case, having a similar option. On 25 March 2010 he scored against his former team, after stealing the ball from goalkeeper Iker Casillas, but the home team lost it 2–4.
Having to compete for a starting berth in central midfield with coach Míchel"s son, Adrián – a former teammate in Real Madrid B – he nevertheless contributed solidly during the season as Getafe qualified for the second time in its history for the Union of European Football Associations Europa League. Parejo appeared more for Getafe in 2010-2011 (36 matches), but the Madrid outskirts club only narrowly avoided relegation.
Valencia
On 14 June 2011 Valencia CF officially announced the signing of Parejo for a reported €6 million, with out-of-favor goalkeeper Miguel Ángel Moyà going to Getafe on a year-long loan as part of the deal.
He made his league debut on 15 August, playing 80 minutes in a 1–1 away draw against RCD Mallorca. Parejo was quickly deemed surplus to requirements at his new club, his situation not improving even after the serious injury suffered by Sergio Canales, who played in his same position. He bounced back, however, for 2012-2013, scoring twice in 36 official games in an eventual fifth-place finish.
In the following years, Parejo was an undisputed starter for several managers.
In 2014-2015 he scored a career-best 12 goals, being one of the best scorers in the competition from the midfielder position. In the process, he also became the first Valencia midfielder to score ten or more goals since Vicente in the 2003-2004 season.
However, in January, after a poor run of form, the former was stripped of his captaincy in favour of the latter by manager Gary Neville. Parejo was named in the Spanish under-19 squad for the 2007 Union of European Football Associations European Championship.
The following year Parejo was promoted to the under-21 side, appearing in several qualification matches for the 2009 European Championship.