South Africa will stage the richest single tournament in the sport when it launches a new World Golf Championship (WGC) event next year.
The US$10 million (NZ$12.8 million) Tournament of Hope is to be held from 2012 to 2016.
A precise date and a venue have yet to be decided.
The announcement comes after South African Charl Schwartzel's U.S. Masters victory on Monday and fellow countryman Louis Oosthuizen's British Open win last July.
The Tournament of Hope will be only the second WGC event to be staged outside the United States, the other is the HSBC Champions in China.
The Tournament of Hope could be held at the end of 2012.