They competed in the NRL's 2007 Telstra Premiership, finishing the regular season in 5th position, and came within one match of the grand final only to be knocked out by eventual premiers, Melbourne Storm, who would later be stripped of this title after being found guilty of salary cap breaches.

In an incident-filled match at ANZ Stadium in front of 50,621, Parramatta ran out 25–6 winners gaining revenge for their infamous preliminary final loss to Canterbury in the 1998 NRL season.

In a gruelling match at Melbourne's Telstra Dome, the Storm eventually won 26–10 ending Parramatta's 2007 season, one win away from their first Grand Final appearance since 2001.

Late season losses to Newcastle, Cronulla, Melbourne and St. George Illawarra proved costly.

The playing squad and coaching staff of the Parramatta Eels for the 2007 NRL season as of 27 December 2006.