While the Gialloblu are back in the big time this term, their visitors missed out in the playoffs and will play in Italy's second tier once again.
Match preview
Having proven themselves worthy winners of Serie B by losing only four games all season, Parma finished top by a three-point margin, and they will be joined in the top flight by Como and Venezia.
Under former Napoli midfielder and Cremonese coach Fabio Pecchia, the Emilian club are now building towards their first Serie A season since 2021 - they had previously climbed up the divisions following financial implosion.
After losing to Lugano and then beating Antwerp in their first two summer friendlies, Parma followed defeat to Heidenheim with a 2-0 win over Galatasaray.
Supposedly their toughest test came at Stadio Tardini last Sunday, but the Gialloblu swept aside Europa League winners Atalanta BC, with Romania international Dennis Man bagging a brace in an impressive 4-1 win.
They now return to competitive action with a Coppa Italia first-round tie, having only exited on penalties to Fiorentina in last season's round-of-16 - they will soon meet the Viola again, on Serie A's opening matchday.
While Parma are three-time winners of Italy's national cup - all during their heyday, more than two decades ago - Palermo have yet to lift the Coppa throughout their 124-year history.
Unlike their hosts, the Sicilian side's most recent bid to reach Serie A was unsuccessful, as after finishing sixth in the league standings they were then eliminated in the promotion playoffs.
Though they initially saw off Sampdoria, the Rosanero were subsequently beaten 3-1 on aggregate by Venezia, who would ultimately go on to claim the final top-flight spot.
Having come up short under Michele Mignani, new boss Alessio Dionisi - who led Empoli up to Serie A in 2021 - is aiming to rebuild his reputation after a three-year stay at Sassuolo ended in dismissal and the Neroverdi were eventually relegated.
Though Dionisi saw his new team beaten in their first pre-season friendly, subsequent wins over Monza, Leicester City and Oxford United perhaps suggest they can cause Parma some problems this weekend.
Parma pre-season form:
Palermo pre-season form:
Team News
Likely to line up in a 4-2-3-1 formation, Parma should start new recruits Emanuele Valeri and Zion Suzuki on Sunday, while centre-back Yordan Osorio is now available, having returned from a break after Venezuela's Copa America campaign.
Romanian duo Dennis Man and Valentin Mihaila support Yoan Bonny up front, but Brazilian midfielder Hernani is ruled out by a calf problem and Gabriel Charpentier could be sidelined until September by a thigh strain.
Meanwhile, Palermo 'new boy' Valerio Verre has joined the club for a third time after being released by Sampdoria and should play a part at Stadio Tardini.
Fellow forward Matteo Brunori is struggling with a knee injury, though, and recent signing Francesco Di Bartolo has suffered a foot fracture in training.
On loan from Hellas Verona this season, French striker Thomas Henry will vie with Verre, Federico Di Francesco and Roberto Insigne for selection up front.
Parma possible starting lineup:
Suzuki; Del Prato, Osorio, Balogh, Valeri; Cyprien, Estevez; Man, Sohm, Mihaila; Bonny
Palermo possible starting lineup:
Gomis; Graves, Buttaro, Lucioni; Diakite, Segre, Blin, Ranocchia, Lund; Di Francesco, Henry