Florida (17-6, 6-3 Southeastern Conference) snapped a two-game losing streak in the series. The Gators' last victory over the Bulldogs came Jan. 24, 2007.
Mississippi State (16-7, 4-4) has lost four of its last five games.
Ravern Johnson finished with 20 points and Jarvis Varnado added 16 points and 13 rebounds for Mississippi State.
Florida had a 12-point lead with 2:38 to play, but struggled to close out the game.
The Bulldogs scored seven unanswered points to cut the lead to 61-56. Johnson and Barry Stewart each hit 3-pointers in the final minute, cutting Florida's lead to 66-62 with 22.4 seconds to play.
Parsons and Erving Walker combined to hit three free throws to close out the final seconds.