This paper proposes a novel artificial neural network called Parallel Layer Perceptron Fast Learning Network (PLP-FLN). In PLP-FLN, a parallel single hidden layer feed-forward neural network is added on the basis of Fast Learning Network (FLN) which is an improved Extreme Learning Machine (ELM). Input weights and hidden layer biases are randomly generated. The weights connect the output nodes and the input nodes, and the weights connect the output nodes and the hidden nodes are analytically determined based on least squares methods. In order to test the PLP-FLN validity, this paper compared it with ELM, FLN, Kernel ELM and Incremental ELM through 12 regression applications and 7 classification problems. By comparing the experimental results, it shows that the PLP-FLN with much more compact networks have demonstrated better approximations, classification performances and generalization ability.