The 19-year-old centre-back spent the second half of last season on loan with the Brewers, making 22 appearances and scoring one goal.
Manager Paul Peschisolido told the club's official website: "He's a great lad who enjoyed his time here last season.
"He is a year older and more experienced now. We know his quality and he gets on well with the rest of the boys."
Parkes joined Yeovil on loan in December and made two appearances for the League One side.
The 6ft 2in defender has also been capped at Under-17 international level for England.
Source: PA
Source: PA