Speaking to Western Mail journalist, Simon Thomas, Parker says he is "very confident about our chances".
The Irish province have never lost a European match at their intimidating Limerick home during 10 years of Heineken Cup action, winning 21 out of 21 games. That's a remarkable sequence of success which the Ospreys must bring to an end on Saturday if they are to have a hope of reaching the knockout stages.
It is a mighty big ask, but Parker is convinced that his Celtic League-topping team have the ability to record a landmark triumph. The Kiwi-born centre, who insists he will be available despite coming off with a wrist injury during Saturday's league win over the Blues, can't wait to take on the Irish.
"It's going to be one of the biggest matches I'll have played in outside of international rugby," said the 12-times capped Parker. "There's everything to play for and it should be a superb atmosphere.
"Munster are obviously a class outfit, but I am very confident about our chances. I really think we can pull it out because these boys in our team are amazing players. You've got to have an even balance and to be able to work well with both backs and forwards and we can do that.
"On our day, we can take anyone apart. We've got an awesome pack who give us an excellent platform and, on a fine day, we can make miracles happen in the backs. The guys we have got out there, the likes of Shane (Williams) and Gavin (Henson), those boys have got amazing skills.
"They can do it off the cuff and are superb ball players. It's just awesome playing with these guys. We can do it both ways, we can play up front through our forwards or play it wide through the backs. It's just the mixture we have to get right on the day."
Parker says the Ospreys can take heart from the way they pushed Munster so close in the league in Cork last month, despite playing more than half the game with 14 men in a Musgrave Park monsoon following the dismissal of Ryan Jones.
"We could have won that match. It really could have gone either way," he said. I'm just hoping the weather will be a little bit better this time."
Not that inclement conditions seemed to bother the Ospreys too much on Saturday when they came away from a rain-sodden and windswept Arms Park with a 15-9 win.
"The boys really stuck together and it was a good team performance," said Parker. One alarm for Ospreys fans came with the centre's departure on the hour mark. Given the hand problems which have blighted him in the past, it was a concern to see him sitting on the sidelines with an ice-pack on his right wrist.
But Parker was quick to dismiss any fears that he might miss the Munster showdown. "I hyper-extended my wrist playing for Wales against New Zealand in November and it keeps on niggling me," he explained.
"But I'll definitely be OK for next weekend. I'll just have to strap it up."
Ospreys coach Lyn Jones was delighted with his side's victory over the Blues, which acts as the perfect send-off as they head back into European action "We were very concerned going into the game because we have seen a big improvement in Cardiff's play," he said. "They are putting things together.
"But they were up against a team right on top of its game. And that little bit of confidence we had just pulled us through."