Former world No. 1 Tiger Woods will make his return to competitive golf at next month's Hero World Challenge in the Bahamas, an event which he hosts, after being sidelined for more than a year.

"I am excited to make my return at the Hero World Challenge," the 14-time major winner said in a news release on Tuesday.

The Tiger Woods Foundation is a charitable beneficiary of the Dec. 1-4 tournament, which will be held for a second year in a row at Albany Golf Club in New Providence.

The 40-year-old Woods has been sidelined for 15 months due to back-related issues.

Woods had initially planned to return at last month's Safeway Open in Napa, California, but withdrew three days before the opening round, saying his game was not sharp enough.

Woods has not played on the PGA Tour since August 2015, having undergone surgeries in September and again in October of that year due to ongoing back problems.

The greatest player of his generation and arguably of all time, he has not won a tournament anywhere since 2013 and his title drought in the major championships dates back to 2008.

Woods will make his return to competition in elite company at the Hero World Challenge where a high-quality but limited field of 18 players will vie for the title.

Dustin Johnson, the U.S. Open champion, and British Open winner Henrik Stenson head a powerful lineup that includes eight of the world's top 13 players.

"Every year we put together a top field that showcases the best golfers from the previous season," said Woods.