The 14-time Major champion, a four-time Masters winner, has not played a PGA event since last August. Since then, he underwent back surgery and a follow-up procedure to ease discomfort from a pinched nerve.
"I've been dedicated to my rehab and improving daily, but I'm not physically ready to compete in the Masters," Woods tweeted.
There had been a bit of mystery about Woods' status for the year's first major tournament, as Woods had not updated the status of his rehabilitation for several weeks. He had said there was no timetable for his return.
"I've been hitting balls and training daily, but I'm not physically ready. I've said all along that this time I need to be cautious and do what's best for my long-term health and career.
"Unfortunately, playing Augusta next week wouldn't be the right decision. I'm absolutely making progress, and I'm really happy with how far I've come, but I still have no timetable to return to competitive golf."
Woods said he will go to Augusta National for the annual Champions Dinner, where reigning champion Jordan Spieth plans a special Texas barbecue offering, but offered his disappointment to Augusta National and ticket holders that he would not be playing.
"I do plan to attend the Champions Dinner and see a lot of old friends."
Woods also thanked supporters for sticking by him through his physical ailments. Woods has not won a major since the 2008 US Open and has not captured any title at all since the 2013 WGC Bridgestone Invitational, his 79th PGA triumph -- three shy of matching Sam Snead's all-time record.
"I'd like to thank the fans for their concern and support," Woods said. "The last few years have been difficult, but I have the best fans anywhere, and I want them to know that."
competitive round in August last year at the Wyndham Championship.
"There were some awkward shots, there's no doubt about it. This golf course, if you're driving it great here, you can take advantage of this golf course, you can tear it apart. But if you're not, you get up in some bushes and some rods, you can go sideways. But all in all, I feel pretty good. I'm looking forward to another three more days."
He added, "I think how quickly I fell into the competitive mode and I felt the feel of the round. By the time I hit the second, my tee shot on the second hole, I had already gotten into the flow of the round. That's something that for me when I've taken layoffs and taken breaks, it's quickly can I find the feel of the round. It's good to be able to play in, what, 15, 16 months and get it on the second hole is nice."
"Oh, I did. There's no doubt I felt it. It was nice. It felt good to have that adrenaline surging through the system again. It's been a long time. To get up there on that first hole and feel it again and then dumb it down to be able to control it and get into my feel where I play my best, that was nice. I got it pretty quick.
"By the time I got to, as I said, the second or third hole I was already in it," said Woods.
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