The skins game will also include Jason Day and Hideki Matsuyama in a one-day competition to be held at Accordia Golf Narashino Country Club in Japan, three days before the start of the inaugural Zozo Championship that will be played outside of Tokyo. Woods is expected to compete in that tournament, the first official PGA Tour event in Japan.
The PGA Tour-sanctioned skins game will offer "lucrative prize money," according to ESPN, although the amount and the structure of the event are still being finalized.
The Skins Game was once an offseason golf staple, held from 1983 to 2008, often around Thanksgiving weekend. The event fizzled from a lack of star power in its final few events.
In a typical skins competition, each hole is assigned a dollar amount, with the prize money rolling over to the next hole if there is no winner.
Woods was a runner-up in the Skins Game in 2001, 2004 and 2005, but he did not play in the competition after that.
--Field Level Media