Woods is aiming to rediscover the golf that earned him 14 major titles after a long battle with personal issues and injury.
Despite returning to winning ways in the World Challenge last year, Faldo still believes that Woods is not back to his best.
Faldo told Golf Monthly: "Tiger would win a tournament, disappear, come back, and round one [he played] without rust.
"He's fighting a lot of things.
"How good is his knee? How good is he technically? How good is his confidence? His concentration is broken."
Woods will return to action in the Abu Dhabi Golf Championship beginning this week.