Comedians Anthony Jeselnik and Jeffrey Ross, and TMZ's chief Harvey Levin, are also expected to mercilessly mock Sheen at the Sept. 10 taping at Sony Studios in Los Angeles. The show is to air on Comedy Central Sept. 19.
"Family Guy" creator Seth MacFarlane is to serve as roast master for the event.
MacFarlane has previously emceed ceremonies starring Donald Trump and David Hasselhoff and is the franchise's only three-time roast master.
Sheen was fired this year from the 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 later announced he is planning to star in a comedy series inspired by the film "Anger Management," however, it is unclear exactly when or where the show might air.