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Tiger Woods will host the PGA Tour's annual event at Riviera Country Club in Los Angeles from 2017.
Formerly known as the Northern Trust Open, the tournament is one of the oldest events in professional golf and is where Woods made his PGA Tour debut as a 16-year-old.
The Tiger Woods Foundation will host the tournament whose new title sponsor is Hyundai with the 14-time major winner pledging to play in the event next February.
"This is a fantastic opportunity for my foundation. This is the first PGA Tour event I ever played and it means a lot to contribute to a community that has supported me and my foundation for more than 20 years," Woods stated.
"I'm committed to playing in my foundation's events and it will be exciting to return to Riviera."
Commenting on the announcement, PGA Tour Commissioner Tim Finchem added: "Recognizing Tiger's ongoing connection to his home state through his foundation, we saw an opportunity to correspond the transition of the tournament operation with the new long-term sponsorship by Hyundai."