Woods, the host of the tournament, will be among the players for the United States at this weekend's Presidents Cup in Montreal. He is a three-time Target World Challenge champion, winning the event in 2001, 2004 and 2006.
Other previous champions, Davis Love III (2000, 2003), Luke Donald (2005) and Padraig Harrington (2002) are also in the field.
Three of this year's four major champions - Woods (PGA Championship), Zach Johnson (Masters) and Harrington (British Open) are entered, as well as Jim Furyk, Steve Stricker, Rory Sabbatini, K.J. Choi, Vijay Singh, Justin Rose, Henrik Stenson, Niclas Fasth, Paul Casey, Mark Calcavecchia and Fred Couples.
This is the ninth year of the tournament and it features a $5.75 million purse, of which $1.35 million will go to the champion. That's more than any major and second only to THE PLAYERS Championship on this year's PGA TOUR - and no golfer will leave with less than $170,000.
The tournament benefits the Tiger Woods Foundation.
'I truly appreciate the support of my fellow golfers and friends,' Woods said. 'The player and fan support is the reason why this event is the success that it has become as we enter our ninth year. I take great pride in having an opportunity to play in Southern California and raise funds for kids of my foundation.'
Woods, a native of Southern California, shot a final-round 6-under par 66 last year to finish at 16-under 272 and win the event by a tournament-record four strokes. Woods, is the all-time money leader at the tournament with $5,597,500.