No. 1-ranked Justin Thomas also gave a commitment to the tournament, which is May 31-June 3 at Muirfield Village Golf Club in Dublin, Ohio.
Woods will be paired with former National Football League quarterback Peyton Manning the pro-am on May 30.
On Wednesday morning, the Memorial Tournament announced Tiger plans to play.
Woods finished strongly at The Players Championship in Ponte Vedra Beach last weekend, posting a seven-under 65 in the third round before closing with a three-under 69 to finish seven shots adrift of tournament victor Webb Simpson.
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Woods, a five-time victor of The Memorial, has performed admirably since his return to golf this season and has posted four top-12 finishes in his last six starts on the PGA Tour. Since returning to the PGA Tour following spinal fusion surgery last April, Woods has made eight starts this year.
Woods won the tournament in 2012, 2009, 2001, 2000 and 1999. Jason Dufner won it previous year. Woods has already committed to playing in the U.S. Open in June, and he recently put his name in the hat to play The Open Championship in Carnoustie, Scotland in July. He's been in contention late on Sunday in four events - he tied for 12th in the Honda Classic, tied for second in the Valspar Championship, tied for fifth in the Arnold Palmer Invitational and got within four shots of the lead before finishing in a tie for 11th in The Players.
"This weekend was extremely positive", Woods said after the Players.