Bring a large pot of salted water to a boil. Cook the pasta until al dente. Reserve some of the pasta water, then drain.
12 ounces fettuccine, ¼ to ½ cup reserved pasta water
Season the shrimp with the salt, pepper, and paprika.
1 ½ pounds large shrimp, ½ teaspoon salt, ¼ teaspoon black pepper, ½ teaspoon paprika
Heat 1 tablespoon olive oil and 1 tablespoon butter in a large skillet over medium heat. Add the shrimp in a single layer and cook for 1 to 2 minutes per side, just until pink and opaque. Transfer to a plate.
1 tablespoons olive oil, 1 tablespoons unsalted butter
In the same skillet, add the remaining 1 tablespoon olive oil and 3 tablespoons butter. Add the mushrooms and cook for 6 to 8 minutes, stirring occasionally, until they release their liquid and start to brown.
1 tablespoons olive oil, 12 to 16 ounces mushrooms, 3 tablespoons unsalted butter
Add the onion and cook for 2 to 3 minutes until softened. Stir in the garlic and cook for 30 seconds.
1 small onion, 4 cloves garlic
Pour in the chicken broth and scrape up any browned bits from the bottom of the pan. Simmer for 2-3 minutes.
½ cup low-sodium chicken broth
Reduce the heat to medium-low. Stir in the heavy cream and Italian seasoning. Simmer for 2 to 3 minutes.
1 cup heavy cream, ½ teaspoon Italian seasoning
Stir in the Parmesan until melted and smooth. Add ¼ cup of the reserved pasta water to loosen the sauce, adding more as needed until it coats the pasta nicely.
¾ cup grated Parmesan cheese
Add the drained pasta and toss to coat. Add the shrimp back to the skillet and warm for 30 to 60 seconds.
Serve immediately with parsley and extra Parmesan.