The world number two cruised to a five-shot victory over Graeme McDowell at Bay Hill Country Club last year and is the firm favourite heading into this week's event.
The 14-time major champion has bounced back from tumbling to 58th in the world less than 18-months ago, during a two-year spell when his career was hampered by injuries and off-course personal problems.
With two victories already this season Woods looks close to his imperial best, which allowed him to dominate the sport for an entire decade between 1997 and 2008.
If Woods has the lead when he pulls on his lucky red golf shirt on Sunday, expect him to leapfrog Rory McIlroy to take the crown as the world's best golfer, sending out a marker to his rivals ahead of next month's US Masters.
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