Graduating from Chicago's Paul Robeson High School in 1998, Pargo played collegiately for the University of Arkansas after transferring from Neosho County Community College in Chanute, Kansas in 2000.

He produced several 30 point games during his tenure and was ahead of his time by firing up 3-pointers from anywhere on the floor, and hitting them, which has become commonplace in the NBA.

From 2002 to 2008, Pargo played in the NBA for the Los Angeles Lakers, Toronto Raptors, Chicago Bulls and New Orleans Hornets.

After the 2007–08 NBA season, Pargo signed a one-year, $3.8 million contract with the Russian League team Dynamo Moscow.

[10] On January 21, 2013, Pargo signed a 10-day contract with the Atlanta Hawks after injuries to Lou Williams and Devin Harris decimated their depth at the point guard position.

[19] On February 2, 2016, Pargo was acquired by the Oklahoma City Blue,[20] and after rehabbing a left ankle sprain, he joined the team on March 31.

[21] That night, he made his debut for the Blue in a 122–117 loss to the Rio Grande Valley Vipers, recording 13 points, one rebound and two assists in 16 minutes off the bench.

[23] In the summer of 2017, Pargo played in The Basketball Tournament on ESPN for team A Few Good Men (Gonzaga Alumni).