The Collaborative International Dictionary of English v.0.48:

parallel-park \parallel-park\ v. t. & i.
   To park (a vehicle) parallel to the curb; -- contrasted with
   angle-park; as, to get a driver's license, one needs to be
   able to parallel-park.
   [PJC]

The Collaborative International Dictionary of English v.0.48:

Park \Park\, v. t. [imp. & p. p. Parked; p. pr. & vb. n.
   Parking.]
   1. To inclose in a park, or as in a park.
      [1913 Webster]

            How are we parked, and bounded in a pale. --Shak.
      [1913 Webster]

   2. (Mil.) To bring together in a park, or compact body; as,
      to park artillery, wagons, automobiles, etc.
      [Webster 1913 Suppl.]

   3. In oyster culture, to inclose in a park.
      [Webster 1913 Suppl.]

   4. To bring (a vehicle) to a stop and leave it standing; --
      typically a parked vehicle is off of the public road, the
      motor is not running, and the driver has left the vehicle.

   Note: a vehicle stopped but still running with the driver in
         it is said to be standing. parallel-park [PJC]

   5. To place (an object) in a temporary location; as, to park
      oneself on the couch; to park one's money in a mutual
      fund. [informal]
      [PJC]

WordNet (r) 3.0 (2006):

parallel-park
    v 1: park directly behind another vehicle