Duval, the world No 1, and Woods will stage an 18-hole matchplay contest at the Sherwood Country Club on 2 August in Thousand Oaks, California. "I'm really excited about playing head-to-head against David." Woods said. "He's a great competitor."
Woods, 23, yielded his top ranking earlier this year to Duval, the winner of four titles and $2.7m in prize-money in 1999.
"I think it's going to be a great day," said Duval, 26, about going up against Woods. "I'm certainly going to have my work cut out. I better be ready or I could take a beating." Each player will contribute $200,000 of their prize-money to charity.
While Woods and Duval have taken turns in dominating the tour, the two biggest names in the sport have yet to come up against one another with a title at stake.
Both players seemed genuinely enthusiastic about the prospect of playing before a prime-time television audience. "Whether you're a golf fan or not, you're going to enjoy two golfers going head-to-head." Woods said. "This is big, like Magic Johnson versus Larry Bird, going head-to-head, first one to 21."Reuse content