Place chicken in a large pot and cover with water. Bring to a boil, then reduce heat and simmer for 1-1.5 hours, or until chicken is cooked through.
Remove chicken from pot and let cool. Shred the meat and set aside.
Strain the broth and return it to the pot. Add onions, celery, carrots, and parsnips. Bring to a boil, then reduce heat and simmer for 30 minutes, or until vegetables are tender.
In a bowl, combine eggs, olive oil, matzo meal, horseradish, salt, and pepper. Mix well.
Bring a large pot of salted water to a boil. Roll the matzo meal mixture into small balls and drop into the boiling water. Cook for 10-15 minutes, or until matzo balls are cooked through.
Add shredded chicken and matzo balls to the broth. Simmer for 10 minutes to heat through.
Garnish with chopped parsley and dill. Serve hot.