The human connectome is an intricate system of interconnected elements, providing the basis for integrative brain function. An essential step in the macroscopic mapping and examination of this network of structural and functional interactions is the subdivision of the brain into large-scale regions. Parcellation approaches used for the formation of macroscopic brain networks include application of predefined anatomical templates, randomly generated templates and voxel-based divisions. In this review, we discuss the use of such parcellation approaches for the examination of connectome characteristics. We specifically address the impact of the choice of parcellation scheme and resolution on the estimation of the brain's topological and spatial network features. Although organizational principles of functional and structural brain networks appear to be largely independent of the adopted parcellation approach, quantitative measures of these principles may be significantly modulated. Future parcellation-based connectome studies might benefit from the adoption of novel network tools and promising advances in connectivity-based parcellation approaches.