Lay the olives on a paper towel-lined plate and gently pat them dry.
Slice a small piece of cream cheese about 1/4 inch thick and place 1 olive in the center of the slice. Wrap the cream cheese around the olive and roll it between your hands so it is completely covered and forms a smooth ball. Repeat until all of the olives are covered in cream cheese.
Mix the walnuts and parsley in a bowl or shallow dish. Roll each ball in the mixture to completely coat. Refrigerate the coated olives, uncovered, until chilled, at least 1 hour. These can be made a day in advance.