Parker was reported to be a Swans target on two previous occasions but had fallen well out of favour at Bloomfield Road following their promotion to the Championship.
Ironically it was Parker who scored one of the goals that took Blackpool to that level as he scored one of the play off final goals against Yeovil last season.
And his fall from grace with the Seasiders was completed today when he was shown the exit door by Simon Grayson who told BBC Lancashire "We've had to release some very established first team players
"But the decisions are made to try and bring in some better players to keep progressing as a football club."
Also on the release list was former Swans loanee Marcus Bean