James McGrane raped and murdered his older sister Dianne at Hodgson Vale, south of Toowoomba on Queensland's Darling Downs, in 1986 in circumstances described by the sentencing judge as horrific.
He bound and gagged the 21-year-old before sexually assaulting her, then stabbed his victim multiple times in the chest and back.
The teen was sentenced to life in jail.
He became eligible for parole in 1999, although all applications had so far been rejected.
The 46-year-old's latest parole bid was knocked back last June after a psychiatrist concluded there was a "moderately high" risk McGrane would commit a serious violent crime if released.