Differential evolution (DE) is a powerful global optimization algorithm which has been studied intensively by many researchers in the recent years. A number of variants have been established for the algorithm that makes DE more applicable. However, most of the variants are suffering from the problems of convergence speed and local optima. A novel tournament based parent selection variant of DE algorithm is proposed in this research. The proposed variant enhances searching capability and improves convergence speed of DE algorithm. This paper also presents a novel statistical comparison of existing DE mutation variants which categorizes these variants in terms of their overall performance. Experimental results show that the proposed DE variant has significance performance over other DE mutation variants.