Woods has said he needs more "tournament reps" to be ready for the Masters but eligibility issues will limit the number of events he can play between now and April.
The commitment to the Arnold Palmer Invitational, meanwhile, was expected, given that he's won eight times in 17 starts at Bay Hill.
It means Woods will now join Rory McIlroy who will also be contesting the Valspar Championship for a first time and in what will be McIlroy's sixth event ahead of the Masters. The final round is Sunday, March 11.
Since returning from his most recent back surgery, Woods tied for ninth at the 18-player Hero World Challenge in December in the Bahamas, tied for 23rd at Torrey Pines in January, missed the cut at Riviera and finished 12th last week at the Honda Classic in Palm Beach Gardens.
The Arnold Palmer Invitational will feature an exceptional field as it does every year.
Blast injures 4 in Kabul
Local media showed extensive damage to the facades of nearby houses, and witnesses reported a strong explosion. In the meantime, another security official says at least fourteen people were wounded in the explosion.
The road to the Masters Tournament will include a stop in the Tampa Bay area for 14-time major champion Tiger Woods.
There were a couple of failed comebacks in there but now it looks like the 14-time major victor is now at a place where he is genuinely able to compete at a high level after undergoing back fusion surgery.
"I need to keep playing tournaments", Woods said after the Honda Classic.
Should he improve that form in the build-up to the US Masters, then Feherty says Woods will firmly be in the mix for a fifth US Masters title. "I'm starting to get into it quicker, feel the pace, feel the shots and get a better sense of it".
"Certainly there's hurdles to overcome, but the sharpness of his golf swing and his game look very, very good", said Duval."You can see that as much as anything I think it was some competitive rust he was fighting".