Definition: parse

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Source: WordNet (r) 1.7 

parse
     v : analyze syntactically by assigning a constituent structure
         to (a sentence)

Source: Webster's Revised Unabridged Dictionary (1913) 

Parse \Parse\, v. t. [imp. & p. p. Parsed; p. pr. & vb. n.
   Parsing.] [L. pars a part; pars orationis a part of speech.
   See Part, n.] (Gram.)
   To resolve into its elements, as a sentence, pointing out the
   several parts of speech, and their relation to each other by
   government or agreement; to analyze and describe
   grammatically.

         Let him construe the letter into English, and parse it
         over perfectly.                          --Ascham.

Source: Jargon File (4.3.1, 29 Jun 2001) 

parse [from linguistic terminology] vt. 1. To determine the syntactic
   structure of a sentence or other utterance (close to the standard
   English meaning). "That was the one I saw you." "I can't parse that." 2.
   More generally, to understand or comprehend. "It's very simple; you just
   kretch the glims and then aos the zotz." "I can't parse that." 3. Of
   fish, to have to remove the bones yourself. "I object to parsing fish",
   means "I don't want to get a whole fish, but a sliced one is okay". A
   `parsed fish' has been deboned. There is some controversy over whether
   `unparsed' should mean `bony', or also mean `deboned'.