According to Golf Digest, the pair are set to tee it up at Trump International Golf Club in West Palm Beach, Florida.
Around three years ago, Woods had also played a round of golf with President Barack Obama.
The former world No 1 recently made his comeback following a 15-month lay-off that followed three back surgeries.
He has committed to play in the Genesis Open in Los Angeles next month, while it is also being rumoured that he could be heading to the UAE for the Omega Dubai Desert Classic in early February.
Trump is an avid golfer and hit the opening tee shot at Trump International Golf Links north of Aberdeen.
He also owns Turnberry, where a major redesign of the Ailsa Course has earned rave reviews.
Eight-time Solheim Cup star Helen Alfredsson has been appointed in the newly-created role of Player President on the Ladies European Tour.
The Swede will be an ambassador for the circuit as well as working closely with the CEO, chairman and the Players’ Council to promote it.
“I am honoured to be the first President of the Ladies European Tour and am very excited about this opportunity to work as part of the team with the CEO and chairman,” said Alfredsson.
“Our diverse skills complement each other and together we can bring a fresh approach to the LET and build a stronger Tour together.
“I’m thrilled to be able to give something back to the tour after all these years and to be able to represent the membership as its President.”
In another appointment, Mark Lichtenhein is the LET’s new chairman, having taken up that post earlier this month.
Lichtenhein, who worked for the men’s European Tour for mote than 15 years, described his appointment as a “great privilege” and said this is an “exciting time for women’s golf”.
Next month’s Latin America Amateur Championship will be televised in 140 countries and reach millions of homes around the world.
The championship, which is run by the Masters Tournament, the R&A and USGA, takes place from 12-15 January at Club de Golf de Panama, close to Panama City.
The winner from the 108-player field will earn a spot in next April’s Masters as well being exempt into final qualifying for both The Open at Royal Birkdale and US Open at Erin Hills.
Rising Chinese star Zecheng Dou has signed with leading management company IMG.
The 19-year-old enjoyed a record-breaking season on the China PGA Tour after getting his breakthrough in the season-opening Henan Ope.
He went on to win three more titles, was awarded Player of the Year honours and finished first on the China PGA Tour Order of Merit.
“I am delighted to be joining IMG,” said Zecheng. “I am really excited to have qualified for the Web.com Tour and am looking forward to playing in America.”
Blairgowrie Golf Club has teed-up an innovative strategy designed to encourage more youngsters into the sport.
The measures being promoted at the 2014 Junior Ryder Cup host club include the appointment of a member to an ambassadorial role promoting golf in local schools and to community groups.
Junior fees, which include courtesy range balls, have been fixed at just £75 for the nine-hole Wee Course and £125 for all three Blairgowrie courses, when youngsters have secured a handicap of 18 or better.
“Junior members are the lifeblood of the game and with the support of members we are doing our very best to reverse the general decline in membership among youngsters,” said club captain Brian Wesencraft.
Phil Mickelson, who is recovering from two hernia surgeries, has committed to play in next month’s Farmers Insurance Open.
The 2013 Open champion has won his hometown event in San Diego three times - 1993, 2000 and 2001.
The field is also set to include world No 1 Jason Day and US Open champion Dustin Johnson, as well as Rickie Fowler and Justin Rose.