The world number one golfer had successful surgery on Monday, when he was operated for a pinched nerve injury in his back that has been "hurting him for several months."
Doctors have advised Tiger, 38, to rest for the next several weeks.
"After attempting to get ready for the Masters, and failing to make the necessary progress, I decided, in consultation with my doctors, to have this procedure done," Tiger posted in a statement.
"I'd like to express my disappointment to the Augusta National membership, staff, volunteers and patrons that I will not be at the Masters. It's a week that's very special to me. It also looks like I'll be forced to miss several upcoming tournaments to focus on my rehabilitation and getting healthy.
"I'd also like to thank the fans for their support and concern. It's very kind and greatly appreciated. This is frustrating, but it's something my doctors advised me to do for my immediate and long-term health."
This will be the first time that Tiger, who is a four-time champion of the competition, has not played in the Masters since 1995.
The athlete will begin intensive rehabilitation and soft-tissue treatment within a week. While recovery rates differ for each patient, it is expected that Tiger could begin chipping and putting in three weeks.
The aim is for the father-of-two to be fully recovered and playing by the summer.
"It's tough right now, but I'm absolutely optimistic about the future," he added.