The 15-time major champion was not involved at the Charles Schwab Challenge over the weekend, but still managed to climb a spot above Justin Thomas.
Woods last played in the US PGA Championship where he missed the cut at Bethpage Black, but his rise is due in part to Thomas not playing the Masters, where the 43-year-old ended an 11-year wait for a major title.
This weekend, Woods is scheduled to play at the Memorial Tournament as part of his build-up to next month's U.S. Open at Pebble Beach.
He has won Memorial five times, with his most recent victory coming in 2012. If he were to triumph again, he could reach number three in the rankings.
Woods still holds the record for most consecutive (281) and cumulative (683) weeks at number one in the official rankings.
Photo Getty Images. Caption: Tiger Woods