Masters winner Bubba Watson and U.S. Open champion Webb Simpson are among the 15 Americans competing this week. Everyone in the 18-player field is ranked inside the top 35 in the world rankings.
Woods, ranked No. 3 in the world, tops that list. He is one of four players in the top 10 in the world playing at this event.
Last year, Woods rallied with a 3-under 69 in the final round to beat Zach Johnson by a single stroke. It was the fifth time Woods won his own title.
The victory last year was the first for Woods since his 2009 Thanksgiving night car accident.
Woods got back to his winning ways on the PGA Tour this year, winning at three of his favorite events -- the Arnold Palmer Invitational, The Memorial and his own AT&T National.
Golf Channel will cover the action on Thursday and Friday before handing off to NBC for the weekend.
The only other offseason event left for the PGA Tour is next week as Keegan Bradley and Brendan Steele defend their title at the Franklin Templeton Shootout.
PGA TOUR QUALIFYING TOURNAMENT, PGA West (TPC Stadium and Nicklaus Tournament Courses), La Quinta, California - The 6-round marathon better known as Q School starts on Wednesday and runs until Monday.
The field this week includes former major champions like Todd Hamilton and Shaun Micheel; veteran PGA Tour players such as Len Mattiace, Billy Mayfair, Nick O'Hern, Tom Pernice and Camilo Villegas; European standouts like Rafael Cabrera-Bello, Gonzalo Fernandez-Castano, Ross Fisher and Robert Karlsson; and up-and-comers trying to get their tour card for the first time like Patrick Cantlay, Bryden MacPherson and James White.
Karlsson is probably the most accomplished player in the field. He has 11 European Tour titles and a pair of Ryder Cup appearances.
Brendon Todd went 8-under par over the final two rounds last year to earn medalist honors by one shot over Stephen Gangluff. Todd finished 150th on the money list, so he is back at Q School to try to keep his card for 2013.
The top 25 and ties will earn their PGA Tour cards for next year.
LPGA FINAL QUALIFYING TOURNAMENT, LPGA International (Champions and Legends Courses), Daytona Beach, Florida - Like the PGA Tour, jobs are on the line this week on the LPGA Tour.
The field this week includes 122 players trying to earn their way onto the LPGA Tour. The LPGA's Q School lasts 90 holes and has a cut after the fourth round.
The top 70 players and ties will make it to the final round on the Champions Course at LPGA International. After the cut, the top 20 and ties will earn their LPGA Tour cards for 2013.
Last year, Numa Gulyanamitta went 8-under over the final two rounds to grab medalist honors by two strokes over Christine Song. Gulyanamitta was able to keep her tour card, while Song has returned to the final stage of Q School.
NEDBANK CHALLENGE, Gary Player Country Club, Sun City, South Africa - Twelve of the best players in the world are in Sun City this week for the Nedbank Challenge.
Lee Westwood fired a 10-under 62 in the third round, then hung to win by two strokes last year. Westwood became the first player since Jim Furyk (2005-06) to repeat as champion.
Westwood is one of three players ranked in the top 10 in the world competing this week. Eleven of the 12 players are ranked in the top 37 in the world.
The Englishman is the only former champion competing this week.
Golf Channel will have coverage of all four rounds.
The European Tour starts the 2012-13 schedule next week with a new event, The Nelson Mandela Championship.