Parsons died in an explosion at his home laboratory in Pasadena, California. The circumstances surrounding his death remain controversial, with some speculating about foul play, while others attribute it to an accidental explosion during chemical experiments. He was 37 years old.

The immediate aftermath of Parsons' death involved an investigation by authorities, who initially attributed the explosion to accidental mishandling of explosives. However, the circumstances remained murky and fueled speculation.

Despite the controversies surrounding his life, Parsons' contributions to rocketry have been increasingly recognized in recent years. He is acknowledged as a pioneer in the field and a key figure in the development of solid rocket propellants.

Parsons' involvement in Thelema and his exploration of occult principles have made him an enduring figure in occult circles. He is admired for his attempt to integrate science and magic and his bold experimentation with alternative spiritual practices.

Interest in Parsons' life and work has continued to grow in recent years, with numerous biographies, documentaries, and fictional portrayals exploring his complex and multifaceted persona. He remains a subject of fascination for those interested in the intersection of science, magic, and counterculture.