Victories at The Masters and U.S. Open earned Woods a record sixth invitation to this unofficial PGA Tour event. He is joined by PGA Championship winner Rich Beem and former major tournament champions Davis Love III and Justin Leonard.
"If you look at the collection of players here, there are four pretty good one," Woods said. "We've all had major championship success. We've all played well this year. It's going to be a good event for everybody, including us."
British Open winner Ernie Els of South Africa is skipping the two-day event, which offers a $400,000 first prize.
"Justin and I are real happy Ernie is not here," joked Love, who captured the 1997 PGA Championship. "We are not disappointed at all."
Woods was runnerup to Els in his first appearance at this tournament in 1997. He has won it every year since.
Woods, 26, has claimed 11 major titles, tying him for Walter Hagen for third on the all-time list behind Jack Nicklaus (20) and Bobby Jones (13). In addition to his victories at Augusta National and Bethpage Black, Woods won the Bay Hill Invitational Buick Open and the American Express Championship.
Despite playing only 18 events, he again topped the PGA Tour money list with more than $6.9 million, bringing his career total past $33 million.
Located at the Hyatt Regency Kauai Resort & Spa, Poipu Bay is a par-72 layout spanning 7,064 yards.