Woods was last seen at the Bell Canadian Open, where he tied for 23rd.
Duffy Waldorf is the defending champion. He blew past both Woods and Steve Flesch in the final round with a career-low 10-under-par 62.
Waldorf started the day six strokes behind overnight leader Flesch, but birdied six of his first seven holes to storm into contention. He finished his comeback with a 12-foot birdie putt on the 72nd hole for a one-stroke victory.
In winning his fourth career PGA Tour title, Waldorf tied the tournament record with his 26-under 262 total (John Huston, 1992).
The par-72, 7,190-yard Magnolia is the host course. The par-72, 6,957-yard Palm course is also in the rotation over the first two days.
This is the penultimate tournament before the season-ending $5 million Tour Championship, where the top-30 on the money list after next weeks Buick Challenge qualify.
Click here for the current money list
This weeks purse is $3.4 million, with $612,000 going to the winner.
The field includes Robert Allenby, Paul Azinger, Stewart Cink, John Daly, Scott Hoch, Bernhard Langer, Tom Lehman, Jesper Parnevik, Nick Price and Vijay Singh.
Woods is a two-time winner of this event. He captured the title in his rookie season of 1996, and then again in 99. Jack Nicklaus won the first three Disney tournaments from 1971-73; Tim Simpson, 1989-90, is the only other player since to successfully defend his title.
Full field and tee times for the NCR Classic