Mickelson won the winners-only tournament at La Costa Resort in 1998 and then played only twice since it moved to the Plantation Course at Kapalua in 1999, most recently in 2001 when he tied for 28th against a 33-man field.
He qualified by winning the PGA Championship at Kiawah Island at age 50, making him the oldest major champion in history.
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His appearance means all four major champions will be at Kapalua in early January, joining Masters champion Hideki Matsuyama, U.S. Open champion Jon Rahm and British Open champion Collin Morikawa.
Among those not playing is Wells Fargo Championship winner Rory McIlroy, who starts his season in the Middle East swing that’s part of the European tour.
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