Cyrus most recently made headlines by joking with friends at a birthday party that she smoked "way too much f**king weed", a comment which her publicist later claimed was a joke.
Parton has now revealed that she identifies with Cyrus and hopes that the young star gets more privacy as she enters into womanhood.
"I remember myself at her age. We've all been a bit too hard on her," the country music star told Parade.
She added: "I hope she holds it together because there's a world of things she can do. She should keep an eye on things and make wise decisions."
Cyrus recently denied that she is suffering from personal problems after posting some emotional lyrics from The Smiths' song 'How Soon Is Now?' on her Twitter page.
Parton co-stars with Queen Latifah in the upcoming film Joyful Noise, which opens on January 13 in US cinemas.
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Watch a trailer for Joyful Noise below: