Left-hander Mickelson confirmed on Friday he would be playing in the April 29-May 2 PGA Tour event, the day after Woods announced he would take part.
With British world number four Lee Westwood also set to compete, the Quail Hollow Championship will have three of the world's four leading players in a high-quality lineup.
"Phil has been a very positive ambassador of our tournament for many years now and we are excited to have him back in Charlotte," Quail Hollow Championship executive director Kym Hougham said in a statement.
Mickelson will compete for the sixth time at Quail Hollow where he tied for fifth in 2009 and finished joint third in 2007.
The tournament will command even greater interest this year with Woods making his second PGA Tour appearance of the season following a self-imposed break of almost five months.
The disgraced American, champion at Quail Hollow in 2007, made his highly anticipated comeback to the sport following a tawdry sex scandal at last week's Masters where he tied for fourth.
(Writing by Mark Lamport-Stokes; Editing by Ken Ferris)