We report a GaAs/AlAs superlattice parametric oscillator. It was pumped by a microwave field (power few mW) and produced 3rd harmonic radiation (frequency near 300 GHz). The nonlinearity of the active superlattice was due to Bragg reflections of conduction electrons at the superlattice planes. A theory of the nonlinearity indicates that parametric oscillation should be possible up to frequencies above 10 THz. The active superlattice may be the object of further studies of predicted extraordinary nonlinearities for THz fields.