The former world number one will be playing in his first competitive golf tournament since July when he teams up with McIlroy to take on Justin Thomas and Jordan Spieth in the 12-hole exhibition event.
Woods will be aided by the use of a cart at Pelican Golf Club in Belleair, Florida, on Saturday.
"I can hit golf balls. It's just hard getting from point A to point B, so [the cart] will certainly help a lot," said Woods, who is still struggling with plantar fasciitis in the foot - tissue inflation that causes pain in the heel.
"Being in a cart is a totally different deal. That's something I've done at home quite a bit. When I was trying to gear up and be able to play in the Hero and see if I could actually do it, the walking part was the challenge, it wasn't actually swinging.
"I've got to get this plantar to heal and that just takes time. It's not something that happens overnight. It's going to take a lot of rest and healing and unfortunately, treatment. It's a tough road."
Woods put up a brave face as he addressed the media, however, and joked that he will be ready for action come Saturday.
"I can tell you one thing," he said. "I have the No 1 player on my team, so I'm good."
The event will use a best-ball format, with the best individual score winning each hole, and McIlroy said that with Woods by his side, he fancies his chances.
"He's probably the best iron player that's ever lived... probably the best golfer that's ever lived. Period.
"I think if he can just get it out in the fairway, and get some looks in the fairway, I think we're going to have a really good chance."
Woods will be back in action at the PNC Championship with his son Charlie on December 17, and the 15-time major winner revealed he has advised his son to emulate McIlroy's swing.
"It's flattering that, in my opinion, the best player ever is telling his son to swing like me," McIlroy said when asked about Woods' comment.
"My dad taught me how to play the game growing up, and his thing was to always hold your finish, and I think that's what Tiger's dad taught him back in the day.
"Tiger's picked up on that and tried to instill that in Charlie. Charlie is a great kid, and he is a great young player. We are all excited to follow his progress and see how far he can go."