The deal runs until 30 June 2027, with the Emilian club announcing the move on its official channels: "Parma Calcio 1913 announces it has acquired on a temporary basis from ACF Fiorentina the services of player Giovanni Fabbian."
Born in 2003, Fabbian began his career in Padova's youth ranks before moving to Inter, where he completed his development through to the Primavera side, winning the Italian youth title with them in the 2021-22 season.
After a loan spell in Serie B with Reggina, Fabbian joined Bologna in the summer of 2023 and made his Serie A debut with the Emilia-Romagna club. He has represented Italy at every youth level from Under-16 to Under-21, featuring for the latter at the most recent European Under-21 Championship.
Parma's statement framed the move as the next step in his development: "Giovanni arrives at Parma to face a new, important challenge in his career and to contribute, with his qualities and experience, to the growth of the yellow-and-blue side."
The move continues a busy summer of squad turnover for both clubs, with Fiorentina having already reshaped much of their midfield and attack this window, including deals involving Joshua Zirkzee and Alieu Njie, while Parma look to add experienced options after a difficult start to the campaign.
Fabbian's versatility across midfield roles, along with his pedigree from Inter's academy system, gives Parma a proven Serie A operator as they look to consolidate their position in the top flight.
Fabbian arrived at Fiorentina only last year but struggled to establish himself as a regular starter, making him a natural candidate to leave on loan once the Tuscan club moved to strengthen the centre of the pitch elsewhere.
For Parma, coached by Carlos Cuesta, the addition gives the midfield further steel and composure following an opening-weekend defeat at home to Cagliari, with the club keen to bounce back quickly as the season gets under way.