Irwin didn't get a chance to defend his title last year, opting out so that Tom Watson could join Nicklaus, Palmer and Player - the original Skins foursome in 1983.
This year's event will take place Saturday and Sunday at the Wailea Resort's Gold Course in Wailea, Hawaii. The total purse is $600,000. Each of the first six holes is worth $20,000, followed by $30,000 apiece for the middle six holes. Holes 13-17 are valued at $40,000, while No. 18 is worth $100,000.
Each hole is a tournament within itself. Prize money is carried over if no player wins the hole outright.
Last year, Player staged the biggest comeback in the history of the Senior Skins Game by birdying the first playoff hole. The win was worth four skins and $220,000. It was the only hole Player won.