Day ripped off a run of three birdies in a row starting at the par-5 13th to put himself into the lead, but bogeys at the 16th and 17th left him third after a closing 70.
“It was really tough,” Day said. “Pressure got to me a little bit.”
Woods, fell eight strokes off the lead before making a late charge that came up short, firing a 70 to share fourth.
“I played well,” Woods said. “Unfortunately I just didn’t make enough putts. I certainly had an opportunity. I thought if I shot 65 I could win it outright.”
Bogeys at the fifth and seventh dropped Woods back, but he birdied the ninth and 10th, then the par-5 13th and 15th to reach five under, unable to gain enough ground on the leaders on the wet, undulating greens of Augusta National.
“I had a hard time getting accustomed to the speed,” Woods said. “It was so much slower with the rain. I left every putt short.”
Guan Tianlang, the 14-year-old Chinese schoolboy who is the youngest player in Masters history, fired a 75 to finish on 12-over 300 to claim the Silver Cup as low amateur.