The 14-times major champion has not competed since he was forced to withdraw from the final round of this month's Players Championship in Florida because of neck pain.
"The doctors advised me to take a week off and rest, which I did," Woods said in a statement on his website (http://web.tigerwoods.com).
"They prescribed physical therapy, anti-inflammatory medication and soft-tissue massages, which I'm continuing with. Although I'm not 100 percent, I feel much better and look forward to competing next week."
Woods, already committed to the June 17-20 U.S. Open at Pebble Beach, said he resumed normal practice sessions last week after healing an inflamed joint.
The 14-times major champion is a four-times winner of the Memorial tournament which is hosted by Jack Nicklaus at Muirfield Village Golf Club.
Woods has, however, played only three events since returning from a self-imposed exile of five months following revelations about his marital infidelities at the end of last year.
(Writing by Mark Lamport-Stokes in Los Angeles; Editing by Ed Osmond)