The 44-year-old actor plans to leave the CBS series at end of the season, People reports.
"Charlie's deal is only through this current season," Sheen's rep, Stan Rosenfield, told People, offering no elaboration on Sheen's future with the sitcom.
CBS would not comment on the report.
It's unknown how or if the series would come back if Sheen were to exit. (One and a Half Men, anybody?)
Two and a Half Men, in its seventh season, is broadcast TV's top-rated prime-time comedy and racked up three Emmy nominations last year (including a win for co-star Jon Cryer). However, the last four months have been rocky for Sheen following his Christmas Day arrest on charges of domestic violence after an argument with wife Brooke Mueller.
Production on the series halted for three weeks in February when Sheen entered rehab as a "preventative measure." He returned to work on March 16.
Sheen pleaded not guilty to the charges and is expected back in court July 21.
Calls and e-mails to Rosenfield were not immediately returned.