Spieth, 22, was in top form as the young maestro got an ace on the second hole much to the delight of the spectators and his partner Anirban Lahiri, who gave the champion golfer a high five.
Spieth made a hole-in-one with a 6-iron and finally added a birdie on a par-five to join a large group at 67 that included Bubba Watson, Bill Haas, Brooks Kopeka and Adam Scott, who lives at Albany.
The hole-in-one moved Spieth to two-under for his round, and he followed it up with birdies on the third and fourth to reach four-under.
This was Spieth's third professional hole-in-one and the champion golfer did not hide his excitement while reliving the moment.
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"Absolutely flushed it right at the hole and didn't think it went in. I started walking because balls have been sticking on the green, so I thought it stuck. But I guess it just crept forward that extra 2 feet."
Hosted by Tiger Woods, the Hero World Challenge is an exclusive PGA-sanctioned tournament featuring only 18 of the top-ranked golfers in the world. Spieth won the tournament last season and made his presence felt right away at the Albany Championship course.