Earlier in the ceremony, the film won the Oscar for Best Original Screenplay, Best International Feature Film, and Best Director.
'Parasite' managed to win four awards at the ceremony out of the six nominations it received.
'Parasite' had gained six nominations this year at the 92nd Academy Awards Best Picture, Best Director, Best International Feature Film, Best Original Screenplay, Best Production Design, and Best Film Editing.
The movie has garnered international acclaim and has managed to win awards at Golden Globes, Screen Actors Guild Awards and the Writers Guild Awards.
It is also the first non-English film to win the Screen Actors Guild Award for Outstanding Performance by a Cast in a Motion Picture.
'Parasite' first premiered at the 2019 Cannes Film Festival and the film immediately made waves as it managed to win the Palme d'Or.
The movie stars Song Kang-ho, Lee Sun-Kyun, Cho Yeo-Jeong, Choi Woo-Shik, and Park So-dam. The flick tells a tale about the members of a poor household family, who somehow get employed by a wealthy family by infiltrating the household and posing as unrelated, highly qualified individuals.

Joaquin Phoenix won the award for the best male actor for 'Joker', Renee Zellweger became the best female actor for her portrayal of late icon Judy Garland in the biopic 'Judy'.
Here's the complete list of winners:
Best Motion Picture: 'Parasite' (Neon), Kwak Sin-ae and Bong Joon Ho, producers.
Best Director: Bong Joon Ho, 'Parasite'
Best Female Actor: Renee Zellweger, 'Judy'
Best Male Actor: Joaquin Phoenix, 'Joker'
Best Female Actor in a Supporting Role: Laura Dern, 'Marriage Story'
Best Male Actor in a Supporting Role: Brad Pitt, 'Once Upon a Time in Hollywood'
Best Original Screenplay: 'Parasite', Bong Joon Ho and Han Jin-won
Best Adapted Screenplay: 'Jojo Rabbit', Taika Waititi
Best Cinematography: '1917', Roger Deakins
Best Visual Effects: '1917', Guillaume Rocheron, Greg Butler and Dominic Tuohy
Best International Feature: 'Parasite' (South Korea)
Best Film Editing: 'Ford v Ferrari', Andrew Buckland and Michael McCusker
Best Production Design: 'Once Upon a Time in Hollywood', production design: Barbara Ling; set decoration: Nancy Haigh

Best Costume Design: 'Little Women', Jacqueline Durran
Best Makeup and Hairstyling: 'Bombshell, Kazu Hiro', Anne Morgan and Vivian Baker
Best Animated Feature Film: 'Toy Story 4' (Pixar), Josh Cooley, Mark Nielsen and Jonas Rivera
Best Animated Short Film: 'Hair Love', Matthew A. Cherry and Karen Rupert Toliver
Best Sound Editing: 'Ford v Ferrari', Donald Sylvester
Best Sound Mixing: '1917', Mark Taylor and Stuart Wilson
Best Original Score: 'Joker', Hildur Gudnadottir
Best Original Song:"(I'm Gonna) Love Me Again," 'Rocketman', music by Elton John; lyrics by Bernie Taupin
Best Documentary Feature: 'American Factory' (Netflix), Steven Bognar, Julia Reichert and Jeff Reichert
Best Documentary Short Subject: 'Learning to Skateboard in a Warzone (If You're a Girl)', Carol Dysinger and Elena Andreicheva
Best Live-Action Short Film: 'The Neighbors' Window', Marshall Curry
The 92nd edition of the Academy Awards went hostless for the second time and took place at the Dolby Theatres, Los Angeles, California.