Woods' hopes of winning the Grand Slam ended at the British Open last week, when he shot an 81 in miserable conditions in the third round and finished tied for 28th.
Woods' performance at Muirfield had no bearing on his decision, according to the source, who spoke to the AP on the condition of anonymity.
The Buick Open, scheduled for Aug. 8-11 in Grand Blanc, Mich., will be Woods' first tournament since the British Open.
Woods will team with Jack Nicklaus and face Sergio Garcia and Lee Trevino in the Battle at Bighorn, a best-ball match, on Monday.
A week after the Buick Open, Woods will go for his third major victory of the year in the PGA Championship at Hazeltine in Minnesota.
Woods played in the Buick Open two years ago, when it was held the week before the PGA Championship. He was coming off a victory in the British Open at St. Andrews, where he completed the career Grand Slam. He went on to win his third major that year at Valhalla.
Woods, who counts Buick as one of his sponsors, appeared on billboards promoting the Buick Open last year, but did not play in the event.
'It's on his schedule, but we haven't received an official commitment yet,'' Buick Open media director Al Abrams said Wednesday afternoon. 'He has until next Friday to commit. We're waiting to hear.''
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