Love Rugby League exclusively revealed on Monday that Leeds were set to sign the Manly forward.
Parcell will join the Rhinos with immediate effect and will arrive in the country in the New Year to begin his new life with the club.
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A highly rated youngster, he gave up a career in civil engineering in 2014 to pursue his dream of playing Rugby League professionally with Brisbane Broncos. A move to Manly Sea Eagles followed in 2016 where he played 15 games last season in the NRL.
In 2015, he was played under former Leeds halfback Ben Walker at the highly impressive Ipswich Jets.
Having made six appearances for the Broncos earlier in the season, he opted to return to his home town club to gain game time.
The move proved decisive as he helped the Jets win their inaugural Intrust Super Cup title and ended his five year career with them on a high note.
The Jets gained a reputation for their attack-minded style of play, which Parcell was at the heart of scoring eight tries from three games, including five against the Easts Tigers in the Week Two elimination final.
The Fassifern Bombers junior made six NRL appearances for Brisbane before joining Manly this season.
Parcell will follow in the footsteps of his grandfather Gary Parcell when he runs out at Headingley Carnegie for the first time.
Prop Gary Parcell toured with the 1959 Kangaroos and played against Leeds and Great Britain at Headingley nearly 60 years ago.
His great-grandfather Percy Parcell represented Queensland as a rugged forward, his grandfather Gary represented Australia in eight Tests and alongside Noel Kelly and Dud Beattie formed an all-Ipswich Australian front row from 1959-62, while another relative, Hector Gee, scored twice in the infamous 1932 Battle of Brisbane Test against Great Britain.
His father, Steve, captained the Ipswich Jets and played alongside the likes of Allan Langer, Kerrod and Kevin Walters under Tommy Raudonikis in the 1980s.
Leeds Rhinos Head Coach Brian McDermott said, “We are delighted to have signed Matt and look forward to welcoming him to the Rhinos.
“He is a player we have been monitoring for a while and were keen to bring him here before his move to Manly.
“His natural abilities will certainly suit the style of play in Super League however we are also conscious that it will take time for him to settle into this pivotal role in the team.
“He is a smart player with a great Rugby League pedigree and I am sure he will be a big hit with the Rhinos fans.”
Parcell said: “I’m excited to have signed a deal with Leeds Rhinos.
“After I talked to Gary and Brian I think the brand of football they want to play is really going to suit my game.
“Playing in England has always been something that I have wanted to do and I’m looking forward to the move.”
Leeds Rhinos Chief Executive Gary Hetherington said: “I would like to thank the Manly club for their co-operation and professionalism in this matter.
“We have enjoyed a good relationship with the management at the club which developed after our two World Club Challenge meetings and that has continued to develop since.
“After speaking with Bob Fulton we both feel we can further strengthen our relationship in the future.”