Parkinson posted the day's high 18.94 out of a possible 20 as his unmatched speed, power and wave affinity proved enough to eliminate on-fire Hawaiian Fredrick Patacchia.
"I had a blast," Parkinson said. "I wish that heat went for an hour. Freddy (Patacchia) was saying it was the best Bells he's ever surfed in a heat. I've had it a lot better, but it was solid and pumping and I had so much fun."
Parkinson is now hot favourite: with projections indicating a potential finish in classic and solid conditions on Friday, his afternoon win in round four sent him directly to the Quarterfinals.
"Bells is a very taxing wave to surf," he added. "There are huge faces and powerful sections and that flat spot in the middle that you have to contend with.
"Skipping round five is definitely an advantage and there are rumours that we may be finish tomorrow. It's Bells though so we just have to wake up and see what we're dealt."
Kelly Slater also made it straight through to the quarter-finals as he posted 18.50 to see off Josh Kerr and Jeremy Flores.
Heat 1: Owen Wright (AUS) 15.87, John John Florence (HAW) 15.00, Adriano de Souza (BRA) 14.93
Heat 2: Kelly Slater (USA) 18.50, Josh Kerr (AUS) 13.10, Jeremy Flores (FRA) 9.64
Heat 3: Mick Fanning (AUS) 18.20, C.J. Hobgood (USA) 10.83, Kai Otton (AUS) 10.33
Heat 1: Adriano de Souza (BRA) 12.33 def. Yadin Nicol (AUS) 9.60
Heat 2: John John Florence (HAW) 13.97 def. Matt Wilkinson (AUS) 9.63
Heat 3: Owen Wright (AUS) 13.77 def. Jadson Andre (BRA) 7.17
Heat 4: Josh Kerr (AUS) 15.17 def. Tiago Pires (PRT) 9.07
Heat 5: Jeremy Flores (FRA) 14.10 def. Bede Durbidge (AUS) 12.83
Heat 6: Kelly Slater (USA) 17.00 def. Nic Muscroft (AUS) 16.30
Heat 7: Kai Otton (AUS) 11.83 def. Taj Burrow (AUS) 6.54
Heat 8: Mick Fanning (AUS) 18.46 def. Raoni Monteiro (BRA) 15.20
Heat 9: C.J. Hobgood (USA) 16.70 def. Gabriel Medina (BRA) 15.60
Heat 10: Jordy Smith (ZAF) 15.43 def. Travis Logie (ZAF) 10.96
Heat 11: Brett Simpson (USA) 15.54 def. Damien Hobgood (USA) 12.53
Heat 12: Joel Parkinson (AUS) 18.94 def. Fredrick Patacchia (HAW) 17.37
Heat 1: John John Florence (HAW) vs. Jeremy Flores (FRA)
Heat 2: Josh Kerr (AUS) vs. Adriano de Souza (BRA)
Heat 3: Kai Otton (AUS) vs. Brett Simpson (USA)
Heat 4: Jordy Smith (ZAF) vs. C.J. Hobgood (USA)
QF 1: Owen Wright (AUS) vs. TBD
QF 2: Kelly Slater (USA) vs. TBD
QF 3: Mick Fanning (AUS) vs. TBD
QF 4: Joel Parkinson (AUS) vs. TBD