You can use a dataset as the source for parameters. First create the dataset (e.g. SELECT ID, Label from yourtable) and then go to the report parameters and change the source of the parameters from "non-queried" to "from query". Select the dataset you just created and use the ID columnfor "Value field" and the Label column for "Label field" and you are pretty much done.
You can also do a similar thing for default values of a parameter if you wish.