The agreement is similar to that put in place to allow able-bodied Russian competitors to take part in next month's Winter Olympics that precede the Paralympics.
Russia was suspended by the IPC in August 2016 following revelations of widespread state-sponsored doping uncovered in a report by Richard McLaren on behalf of the World Anti-Doping Agency (WADA).
After a review, the IPC said in a statement on Monday that "it is maintaining the suspension of the Russian Paralympic Committee (RPC)".
Eligible Para athletes from Russia will be allowed to compete in alpine skiing, biathlon, cross-country skiing, snowboard and wheelchair curling at the Winter Paralympics in Pyeongchang, South Korea, on March 9-18, the IPC said at a meeting in the western German city of Bonn.
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It said that two key criteria to end the wider suspension were still outstanding -- the full reinstatement of the Russian Anti-Doping Agency (RUSADA) by WADA, and an official response adequately addressing the McLaren findings.
"This made it impossible to determine which Russian Para athletes were clean and which were not; it was clear that Russia's participation in Para sport events would severely question the integrity and credibility of sporting competition."
Parsons said the measures taken then by the IPC were "necessary and proportionate" and "essential to ensure clean sport".
"Seventeen months on, we face a different picture in Russia and it is important that once again our decision is necessary and proportionate to what is in front of us," he said.
Russian Para athletes were now regularly tested and "amongst the most scrutinised Para athletes in the world", he said.
"Under the supervision of WADA, we now have greater confidence that the anti-doping system in Russia is no longer compromised or corrupted."
Russia's Paralympic committee deputy chief Rima Batalova said the announcement was not a surprise.
"We expected such a decision, taking into consideration what has happened to our Olympic team," Batalova told R-Sport agency.
Akzhana Abdikarimova, a Russian Paralympic skier and biathlete, said the announcement was "not bad".