In a three-minute video posted on Youtube, parents Ed and Paula Kassig said their son Peter had dedicated his life to helping innocent victims of the Syrian conflict.
The 26-year-old former US soldier was shown at the end of an IS group video released on Friday which showed the murder of British aid worker Alan Henning.
"We implore his captors to show mercy and use their power to let our son go," Ed Kassig said, referring to his son by his adopted Islamic name of Abdul Rahman.
"Please know that we are all praying for you and your safe return. Most of all, know that we love you," she said.
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