Labour MP Chris Bryant introduced a bill under the ten minute rule aiming to require schools to provide sex and relationships education to registered pupils.
The former minister said the UK had a "terrible" problem with teenage pregnancy compared with other European countries.
The bill applies only to England and would see parents to retain the right to withdraw children from lessons.
A proposal to make sex education compulsory was put forward by the previous Labour government but it was withdrawn in April ahead of the general election.
Introducing the Sex and Relationships Education Bill to the Commons, Bryant said the "international comparisons are terrible" on the level of teenage pregnancies.
"We have the highest rate of teenage pregnancy in Europe, and not just slightly but by far."
He continued: "I would point to the one big difference between this country and the countries that have lower rates of teenage pregnancy across Europe and that is that in all the other countries they have statutory sex and relationship education from an early age provided to every single child."
The Rhondda MP highlighted that the highest rates of teenage pregnancy tended to be in the most deprived areas and can often be handed down "from generation to generation".
He said: "What we need to do is we need to make sure that every single child in the country has good sex and relationship education."
Bryant said it was "absolutely right and proper" for parents to decide to withdraw their children from the lessons, adding "we shouldn't have schools from being able to opt-out entirely from providing this".
He acknowledged that education alone would not be enough to solve the problem, noting the part played by underage drinking.
The bill would also ensure that pupils were taught about all aspects of sex and relationship education, which Bryant hoped would reduce the "high level of homophobic bullying" in schools.
He said: "The incidence of suicide amongst homosexual children at school is six times higher than it is amongst heterosexuals."
Conservative MP Therese Coffey said it should be for parents to choose how to provide their children with sex and relationship education.
She told MPs: "I believe that primarily because this aspect of sexual and relationships education is the fundamental, primary domain of parents within families."
Coffey said that there is a constant approach of getting the state to "undermine, supersede, parental authority that is fundamentally flawed".
She added: "The fundamental principle is that families and parents know best, not the government, so we will oppose this Bill fundamentally, every hour, every day."
The bill was given an unopposed first reading but stands little chance of becoming law.
Dods Parliamentary Communications Ltd