Sheen is in town to perform his touring one-man show "My Violent Torpedo of Truth/Defeat is Not an Option."
The actor was recently fired from his sitcom "Two and a Half Men" because of his substance abuse and erratic behavior. He has in the past denied being afflicted with bipolar disorder.
The Hollywood Reporter said he announced via Twitter his plans for Friday night's fundraising walk from his hotel to Massey Hall where he is again to perform his stage show.
"Stop the Stigma!! Bipolar Awareness Walk!! Please join me at 6pm at the Ritz tonight! Raise Money! Raise Awareness! #BIPOLAR #BIWINNING," Sheen Tweeted Friday.
Sheen also said he plans to match donations made to OBAD is "$ for $."
"Charlie wants to bring awareness to bipolar and he has lined up with OBAD to do this walk. And it was totally his idea," the actor's publicist told The Hollywood Reporter.