The 34-year-old will sign a permanent deal until the end of the season in January when the transfer window opens.
He previously spent two years at Bootham Crescent, scoring 14 league goals in 64 league games between 2002 and 2004 before joining Macclesfield.
Parkin is likely to go straight into the Minstermen's team for Saturday's trip to Tranmere.
National League strugglers York City have signed Newport striker Jon Parkin on loan until January.