The world number one will face the 14-time Major winner at Jinsha Lake in October as the only competitors in an 18-hole head-to-head.
Woods and McIlroy set for matchplay 'duel' event in China
The duo, two of the world's most famous golfers, will be the only competitors in the 18-hole Duel at Jinsha Lake, which will be held in Zhengzhou, capital of the central province of Henan, on October 29.
"It's an exciting concept and it will be a lot of fun going head to head with Tiger," said McIlroy.
"The Duel at Jinsha Lake will be the first time myself and Tiger have come together to play a 'one-off' match like this, so I'm really looking forward to it.
"I've always looked up to him as a player. What he's achieved in the game is remarkable."
The showdown — for which no prize money is up for grabs — will come just month after the pair feature in the Ryder Cup.
McIlroy returned to the top of the world rankings after winning last week's PGA Championship by eight strokes for his second Major title, having won last year's US Open by the same margin.
Woods, the world number three, has won three times this year and earned his 100th career worldwide victory, signalling he is getting closer to his best.
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