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Parking is costly and limited in almost every major city in the world. Innovative parking systems for meeting near-term parking demand are needed. This paper proposes a novel, secure, and intelligent parking system (SmartParking) based on secured wireless network and sensor communication. From the point of users' view, SmartParking is a secure and intelligent parking service. The parking reservation is safe and privacy preserved. The parking navigation is convenient and efficient. The whole parking process will be a non-stop service. From the point of management's view, SmartParking is an intelligent parking system. The parking process can be modeled as birth-death stochastic process and the prediction of revenues can be made. Based on the prediction, new business promotion can be made, for example, on-sale prices and new parking fees. In SmartParking, new promotions can be published through wireless network. We address hardware/software architecture, implementations, and analytical models and results. The evaluation of this proposed system proves its efficiency.