High Mach number, low-Reynolds number (high-altitude) reentry flowfield predictions are an important problem area in computational aerothermodynamics. Available numerical tools for handling such flows are very few and significantly limited in their applicability. A new implicit fully-iterative Parabolized Navier-Stokes (PNS) scheme is developed to accurately predict such low-Reynolds number flows. In this new approach the differential equations governing the conservation of mass, momentum and energy, and the algebraic equation of state for a perfect gas are solved simultaneously in a coupled manner. The idea is presented that by treating the governing equations in this manner (rather than eliminating the pressure terms in the governing equations by using appropriate differentiated forms of the equation of state) it may be possible to have an unconditionally time-like numerical scheme. The stability of a simplified version of this new PNS scheme is also studied, and it is demonstrated that these simplified equations are unconditionally time-like in the subsonic as well as the supersonic flow regions. A pseudo-time integration approach is used in addition to a new second-order accurate fully-implicit smoothing, to improve the efficiency of the solution algorithm. The new PNS scheme is used to predict the flowfield around a seven-deg sphere-cone vehicle under high- and low-Reynolds number conditions. Two test case, Case A and Case B, are chosen such that Case A has a large freestream Reynolds number (2.92x10⁵), whereas Case B has a freestream Reynolds number of 1.72x10³, which is smaller than the usual limit of applicability of the non-iterative PNS schemes (Re~10⁴ or larger). Comparisons are made with other available numerical schemes, and the results substantiate the stability, accuracy and efficiency claims of the new Parabolized Navier-Stokes scheme. / Ph. D.