Theory predicts that parametrically excited oscillators, tuned to operate under resonant condition, are capable of large-amplitude oscillation useful in diverse applications, such as signal amplification, communication, and analog computation. However, due to amplitude saturation caused by nonlinearity, lack of robustness to model uncertainty, and limited sensitivity to parameter modulation, these oscillators require fine-tuning and strong modulation to generate robust large-amplitude oscillation. Here we present a principle of self-tuning parametric feedback excitation that alleviates the above-mentioned limitations. This is achieved using a minimalistic control implementation that performs (i) self-tuning (slow parameter adaptation) and (ii) feedback pumping (fast parameter modulation), without sophisticated signal processing past observations. The proposed approach provides near-optimal amplitude maximization without requiring model-based control computation, previously perceived inevitable to implement optimal control principles in practical application. Experimental implementation of the theory shows that the oscillator self-tunes itself near to the onset of dynamic bifurcation to achieve extreme sensitivity to small resonant parametric perturbations. As a result, it achieves large-amplitude oscillations by capitalizing on the effect of nonlinearity, despite substantial model uncertainties and strong unforeseen external perturbations. We envision the present finding to provide an effective and robust approach to parametric excitation when it comes to real-world application.