The 37-year-old replaces Rory McIlroy as number one after dropping to a career-low 58th in November 2011.
Tiger Woods’ win at Bay Hill was his 77th PGA title and his third of 2013.
“I’m very pleased with the way I’m playing,” said Woods, who became number one for the 11th time following his eighth professional win at Bay Hill.
“It was a by-product of hard work, patience and getting back to playing golf tournaments. I’ve turned some of the weaknesses that I had last year into strengths. I’m really excited about the rest of this year” he enthused.
Woods, who clinched the last of his 14 majors in 2008, first came to limelight after he earned his first majory victory at the masters, aged 21 and climbing straight to world number one in June 1997.
But a five-month lay-off in late 2009 after his wife accused him of infidelity, a string of injuries, including four knee operations and an Achilles problem, and problems getting to grips with a new swing all contributed to his fall down the rankings.