Parkinson's men moved to second in the table on Monday thanks to Zach Clough's two penalties at Bury and with a number of other players soon to return to the Wanderers fold, their manager was reluctant to add Odemwingie, 35, to the mix.
"We had a look at Peter over a couple of days but I don't really want to block the progress of our own players," he said.
"I've got Max Clayton, who is so hungry and determined to play, we've got Keshi Anderson, who is desperate to get out there, Chris Taylor's only just come back into the frame.
"So to bring in another one, someone falls by the wayside. Max in particular has done a lot of work to get back and suddenly he's got a player who is ultimately coming to the end of his career blocking his progress.
"We were going to have another look at (Odemwingie) but Rotherham have agreed to do it. We are happy with what we've got and we don't want to unsettle it."