Woods has won the event a record five times and will use it as his final tune-up before the U.S. Open begins at Pebble Beach on June 13.
The 11-time PGA player of the year will look for his first victory at the Memorial since 2012. Held at the Jack Nicklaus-designed course, the tournament is one of the biggest non-major events in golf.
Opting not to play between his Masters win in April and last week's PGA Championship, Woods has kept his word about playing a lighter schedule since his comeback year in 2018.
Woods needs just one more victory to tie Sam Snead's record for the most PGA Tour titles with 82.