Woods collected the Jack Nicklaus Award as player of the year, the Byron Nelson Award for the lowest seasonal scoring average and the Arnold Palmer Award for winning the money title.
Charles Howell III was also honored as the PGA Tour rookie of the year.
Woods won the player of the year award, which is voted on by his peers, for the fourth time in the past five seasons. Woods won five times on the 2001 PGA Tour, including the Masters Tournament.
Howell entered last year with no status on the PGA Tour. Playing on sponsor's exemptions, the former NCAA champion from Oklahoma State earned more than $1.5 million.
Howell tried to fight back tears as he thanked his wife and parents for their support. He then couldn't continue when he mentioned the late Eli Callaway, who signed him to his first endorsement deal.
Callaway died July 5 of pancreatic cancer.
'I wish Mr. Callaway could be here,' Howell said. 'He had a strong belief in me.'
Chad Campbell was honored as the Buy.Com Tour player of the year after winning three times and setting a record with $394,552. Allen Doyle, who was in Florida for the Royal Caribbean Classic, was the Senior Tour player of the year.