Reports about the project have been swirling for weeks but its producers did not confirm it until Monday.
Lionsgate-owned Debmar-Mercury, headed by co-Presidents Mort Marcus and Ira Bernstein, will distribute the series to be produced by Lionsgate Television, led by Television Group President Kevin Beggs and Chief Operating Officer Sandra Stern; Joe Roth and Revolution Studios' Vince Totino; Sheen manager Mark Burg's production company, Evolution Management; and Robert Maron.
Lionsgate said Sheen will retain a significant ownership stake in the series about a mild-mannered, non-confrontational man who is ordered to attend group anger management sessions led by a therapist who could probably use some anger management himself.
"I chose 'Anger Management' because, while it might be a big stretch for me to play a guy with serious anger management issues, I think it is a great concept," Sheen said in a statement. "It also provides me with real ownership in the series, a certain amount of creative control and the chance to be back in business with one of my favorite movie producers of all time, Joe Roth."
Roth and Sheen previously have worked together on five films, including "Major League," "Young Guns" and "Three Musketeers."
"Who better than Charlie Sheen to tackle 'Anger Management?'" Roth said. "With Charlie's incredible talent and comedic gifts, he remains the leading man of TV sitcoms. I'm excited to collaborate with him once again."
Marcus and Bernstein said in a joint statement: "Our sitcom model is all about building well-known brands around extraordinary talents like Charlie that, thanks to their large profit participation, are highly motivated to succeed. It's not every day you can roll out a sitcom featuring the star of the biggest TV comedy of the past decade."
Sheen was fired this year from his sitcom "Two and a Half Men" after eight seasons because of his erratic behavior and substance abuse, as well as for disparaging remarks he made about series creator Chuck Lorre. He made headlines by giving numerous rambling, but highly quotable interviews, then starred in a touring stage show, which was panned by both critics and fans. He has been keeping a low profile since the tour ended, however.