Woods in fitness race for Masters
The world No 1 announced in a statement on his website that he would be unfit to play at the PGA Tour event at Bay Hill Club and Lodge in Orlando, which begins tomorrow.
He will hope to recover for the Masters, beginning at Augusta on April 10, but Woods could offer no reassurance he will play at the first Major of the year.
The four-time Masters champion announced he was pulling out of the Palmer event by saying: "I called Arnold to tell him that, sadly, I won't be able to play in his tournament this year.
"Unfortunately, my back spasms and the pain haven't subsided. It's too early to know about the Masters, and I will continue to be evaluated and work closely with my doctors."
Woods has not missed a Masters since making his debut as an amateur in 1995.