The Mean Girls star, 28, who is currently living in the U.K. while preparing to star in West End's production of Speed-the-Plow, reportedly promised literary agents that she wouldn't hold back any of the details of her troubled past.
"She's prepared to put everything out there and has already proved she's not shy with the list of men she claims to have slept with," a source told Tvnz.
Lohan will use a ghostwriter to help her with the book and has shown interest in a couple of high-profile authors.
"It may seem unlikely, but she thinks she's in with a shot of getting E.L. James to work on it -- they met recently at [London nightspot] Chiltern Firehouse and got on well," a source said. "Another pie in the sky idea was that she might persuade J.K. Rowling to work with her."
James is famous for writing the erotic novel trilogy Fifty Shades of Grey and Rowling is the British novelist best known for writing the Harry Potter book series.
Lohan, who has acquired a reputation for being unreliable over the years, recently vowed not to miss any of her London shows. Speed-the-Plow is scheduled to debut in September and will run for 10 weeks.