Woods, 47, played in just three tournaments last season, all majors, as his recovery from a serious leg injury continued.
He sustained the injury two years ago when he was involved in a single-car accident in the Los Angeles area the day after the 2021 Genesis Invitational was completed. The 15-time major champion is host of the annual event through his charity foundation.
Woods made the announcement of his participation next week on Twitter during Friday's second round of the always-boisterous WM Phoenix Open at Scottsdale, Ariz.