A spokeswoman for the drink maker, sold by PepsiCo, confirmed Friday that it had discontinued its endorsement deal with the scandal-plagued golf star.
"We no longer see a role for Tiger in our marketing efforts and have ended our relationship," Jennifer Schmit said in a statement. "We wish him all the best."
Woods, 34, last week apologized publicly for his string of marital infidelities and said he alone is to blame for the indiscretions, which first came to light after he crashed his SUV into a tree on Nov. 27.
Accenture and AT&T are the other two companies to drop their sponsorship contracts with Woods. Gatorade will continue its partnership with the charitable Tiger Woods Foundation.