Jan. 8 (Bloomberg) -- Tiger Woods made $122.7 million in on-course earnings and endorsements last year and will break the $1 billion mark by 2010, according to an annual study by Golf Digest magazine.

Woods's earnings, which included a $10 million bonus annuity for winning the season-long FedEx Cup points competition and appearance fees for overseas tournaments, mark an increase of $23 million over his 2006 total. Woods also signed new endorsement contracts with the Gillette Co. and PepsiCo Inc.'s Gatorade.

In 2007, 158 golfers surpassed the $1 million mark in earnings, including 99 on the U.S. PGA Tour, the sport's premier circuit. In 1996, the year Woods turned pro, only nine players earned at least $1 million on the course, with Tom Lehman leading the way with $1.7 million.

Top golfers like Woods benefited last year from the more than $30 million the PGA Tour poured into the circuit through the inaugural FedEx Cup and the shifting of the season-ending Tour Championship to September from November. That schedule change enabled players, including No. 2 earner Phil Mickelson at $49.6 million, to accept fees to play in events outside the U.S. The PGA Tour doesn't allow appearance fees.

Since 1996, Woods has amassed $769.4 million in total earnings, Golf Digest said.

To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net

Last Updated: January 8, 2008 16:10 EST