The Irvine-based Tiger Woods Foundation was announced Tuesday as the host organization of the PGA Tour’s tournament at Riviera Country Club in Pacific Palisades.

“This is a fantastic opportunity for my foundation,” Tiger Woods said. “This is the first PGA Tour event I ever played, and it means a lot to contribute to a community that has supported me and my foundation for more than 20 years. I’m committed to playing in my foundation’s events, and it will be exciting to return to Riviera.”

PGA officials announced in January that Northern Trust was dropping its title sponsorship of the event in favor of the FedExCup Playoff tournament in New York. Hyundai Motor America will become the title sponsor of the event starting next year.

“Recognizing Tiger’s ongoing connection to his home state through his foundation, we saw an opportunity to correspond the transition of the tournament operation with the new long-term sponsorship by Hyundai,” PGA Tour Commissioner Tim Finchem said. “With Hyundai Motor America also based in the Los Angeles area, we see this is a very positive move that further strengthens the local ties of the tournament. Further, with Tiger’s personal involvement, we believe it will continue to elevate its stature on the PGA Tour.”

The tournament is one of the longest-running on the PGA Tour, having begun in 1926 at the Los Angeles Country Club as the Los Angeles Open. It has been played at Riviera Country Club since 1973.