The 3-times major champion launched his drive 332 yards up the fairway and then made an eagle after his approach shot settled 10 feet from the cup.
The 4-time major winner fired a one-under par 71 to stand on level par 144 in a share of 36th after 36 holes at Augusta National.
The Englishman's performance was a surprise since he had arrived at the tournament in fine fettle.
After an ordinary outward nine featuring three birdies offset by a pair of bogeys, Woods embarked on one of his trademark charge.
Several prominent players were still on the course when the horn blasted, including Rory McIlroy and Tiger Woods, who had just hit his tee shot on the par-three 12th.
The contest sees Masters competitors and the old guard play on a truncated course with shorter holes.
Augusta National held its first women's tournament last week on the same course that will play host to the men's major.
The 61-year-old thinks that sooner or later a grey-haired older player will win a major, perhaps even the Masters.
The new formula for the 29-year-old centres around meditation, juggling and mind training.
Experience on the difficult greens is something he can rely on to help snag a Green Jacket for the fourth time, with his 100th career round at the Masters slated for Friday.
Since the 43-year-old made his Masters debut in 1995 until a rainy practice round on Tuesday, the American has been the main attraction at the year's 1st major.
The 2013 US Open champion has clinched a top-10 finish on five separate occasions at The Masters.
Once the private sanctuary for some of world's richest and most powerful men, Augusta National shed some of its stodgy old boy image during a 24-hour goodwill blitz.
Pak Se Ri is calling for more women golfers and wants to inspire future generations of women.
The four-time major winner will be tested at Augusta National by resurgent Tiger Woods, top-ranked Dustin Johnson and second-ranked Justin Rose among others.
Reed had grabbed four birdies and three bogeys on the way to a 15-under par total of 273 at Augusta National Golf Club.
Woods had gone into the final round 4-over par and said the poor iron play he has struggled with all week doomed his effort to get to even par, or possibly under par, for the week.
Reed, ranking 24th in the world and chasing a first major title, has come into the day with a two-stroke lead and was unbowed in the face of four-time major winner McIlroy's surge.
Woods has been humbled so far at formidable Augusta National.
McIlroy had been more than pretty good in 2011 when he led after each of the first three rounds and carried a four-stroke lead into the final round.
Sharma has received a special invite to compete at the Augusta National Golf Club following an impressive PGA Tour debut at the WGC-Mexico Championship last month, where he finished ninth after taking a lead into the final round.