Mickelson beat Woods in a £7million showdown in November 2018 in a one-off round designed for pay-per-view television, although it struggled to capture the imagination of the golfing world and technical issues meant it was ultimately available to watch for free.
This time the players and Warner Media have together put up 10 million US dollars (about £8.2million) for Covid-19 relief efforts.
Woods and Mickelson had a frosty relationship earlier in their careers but it has thawed considerably in recent times and the mind games for this event have been played strictly for laughs. Here is everything you need to know.
When is it?
Tee-off time is 7pm BST on Sunday 24 May.
Where is it?
Medalist Golf Club in Florida will stage the rematch.
All four participants have played the course before – Woods is even a member.
What are the teams?
Mickelson teams up with record six-time Super Bowl champion Brady.
Woods is meanwhile paired with two-time Super Bowl winner Manning.
How can I watch it?
British viewers can tune in to The Match: Champions for Charity via CNN International from 8pm.
This can be found at channel 506 (HD) and 878 (SD) on Sky or channel 207 on Freesat.
What are the odds?
Woods/Manning to win: -190
Mickelson/Brady to win: +170