The Target World Challenge features an elite 16-player field that boasts 15 of the top 56 golfers in the world, including half of the world top-20.
Woods, the world No. 1, will be playing competitively for the first time since the last round of the Presidents Cup on September 30th. The defending champion, Woods also won the event in 2001 and 2004.
The $5.75 million event benefits his Tiger Woods Foundation.
'I am excited to get back to the golf course and defend my title,' Woods said in a statement posted on his Web site. 'This is our ninth year, and I'm thrilled at the opportunity to raise funds and awareness for the kids that my foundation supports.'
The field features four more players in the world top-10: No. 3 Jim Furyk, No. 4 Steve Stricker, No. 8 Padraig Harrington and No. 10 Vijay Singh.
World No. 11 and notorious Tiger-baiter Rory Sabbatini leads the rest of the field, which includes Masters champion Zach Johnson (No. 15), Henrik Stenson (16), Luke Donald (17), Niclas Fasth (20), Paul Casey (21), Lee Westwood (24), Brett Wetterich (31), Mark Calcavecchia (47), Colin Montgomerie (56) and Fred Couples (491).
The winner will earn $1.35 million -- Woods gives his prize money right back to his foundation -- and every participant will receive at least $170,000. The 72-hole event begins Thursday and will be covered the first two days by the GOLF CHANNEL and broadcast by NBC on the weekend.