Place cream cheese, sour cream, Worcestershire sauce, garlic powder, onion powder, and parsley in a large mixing bowl. Blend with an electric mixer until well incorporated.
Add shredded cheddar and mix until cheddar is evenly distributed. Scrape sides of bowl and gather mixture into one lump. Cover and chill 30 minutes.
Shape into a ball using a spatula and greased hands. Place pecans on a wide plate. Pressing gently, roll cheese ball through pecans to cover entirely. Cover and refrigerate until ready to eat. Let rest at room temperature for 20 minutes before serving.