It will nearly certainly be his final tournament before the U.S. Open June 14-17 at Shinnecock Hills.
Woods will be paired with former National Football League quarterback Peyton Manning the pro-am on May 30.
A tweet from the Memorial's official account on Wednesday read, in part: "HE'S BACK!"
Tiger Woods of the United States plays a shot on the 13th hole during the final round of THE PLAYERS Championship on the Stadium Course at TPC Sawgrass on May 13, 2018 in Ponte Vedra Beach, Florida.
Woods has won the Memorial five times, though not since 2012.
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The 43rd Memorial Tournament at Muirfield Village Golf Club in Dublin, Ohio, is hosted by Jack Nicklaus May 31-June 3.
In his last six starts, Woods has recorded four top-12 finishes.
Following back-to-back tournaments at the Wells Fargo Championship and Players Championship, it was widely assumed Woods would make one more appearance before this year's U.S. Open at Shinnecock Hills, with Muirfield Village serving as the most likely stop. World No. 1 Justin Thomas, Masters champion Patrick Reed, Rory McIlroy, Dustin Johnson, Jason Day and defending champion Jason Dufner are confirmed for the Golden Bear's marquee event. The 14-time Major champion last played the tournament in 2015.
"This weekend was extremely positive", Woods said after the Players. "I have been so impressed with Tiger during his comeback, and as I said last weekend, I think he is on the verge of winning for the first time in several years".