Police say Li Tian Jia is facing two counts of first-degree murder.
Emergency crews were called to a house at 336 Huntsmill Blvd., in the area of Warden Avenue and Steeles Avenue East in Scarborough, at around 10 a.m. ET on Sunday.
The bodies of a man and a woman were found inside the home. Police issued a news release on Monday afternoon and identified the pair as the suspect's parents — Ji (George) Jia, 58, and Shi (Shirley) Zhou, 51.
Police said post-mortem examinations have not yet taken place.
The accused was arrested at the scene.
The 911 call was placed by a member of the family, police said.
Jia's next court appearance will be on Friday when he is expected to appear by video link at Toronto's Old City Hall.