Jacobson, who had a breakout year in 2003 with three victories on tour, has had mixed results thus far in the 2004 campaign as he has split his time between playing the PGA and European Tours.
Despite not having visited the winner's circle in the 2004 season, the 30-year-old Jacobson has had some success on both sides of the Atlantic.
He has posted five top-10s on the PGA Tour and has reached $1 million in earnings. He also had a tie for third at the Omega Hong Kong Open earlier in the year on the European circuit.
Jacobson hopes to join Jesper Parnevik, a two-time champion of this event, and Joakim Haeggman as the only Swedes to capture the title. Other Swedish nationals in the field include Niclas Fasth, Pierre Fulke, Mathis Grnberg, Robert Karlsson and Jarmo Sandelin.
Joining them in Malmo is Aussie Adam Scott, who will back to defend the crown he won last year, his fourth career European title. Although his best finish on the European Tour in 2004 is a second-place showing at the Heineken Classic in February - where Ernie Els edged him by a stroke - it is the PGA Tour where the young Australian has done the most damage.
In just 11 events, Scott has amassed two wins, five top-10s and ranks fifth on the tour's money list with $2,943,384. He made a clutch 10-footer to save bogey on the 72nd hole to beat Padraig Harrington at The Players Championship in March and in the process became the youngest ever winner of that event. He followed that win with a victory in the Booz Allen Classic in late June.
The Scandinavian Masters will be played at Barsebck Golf and Country Club for the seventh time and will have a purse of $2,169,959 with $363,230 going to the winner.
Vijay Singh and Colin Montgomerie share the tournament scoring record set at 20-under-par 268. Monty also owns the largest winning margin (9), largest final round comeback (4) and also most wins (3).
The Golf Channel will broadcast all four rounds live beginning Thursday at 9 a.m. ET.