This contribution deals with the problem of suppressing self-excited vibration using parametric excitation. A simple model representing a self-excited rod, beam or a slender structure is considered. This model is based on the assumption that the system vibrates with the first mode and so it can bee substituted by a concentrated mass mounted on the massless elastic rod. The parametric excitation is realized by an elastic mounting of one end of the rod; the stiffness of this mounting is periodically varied. The conditions for a fully vibration suppression are formulated.