Taylor famously married and divorced fellow screen icon Burton twice before his death in 1984 of a cerebral hemorrhage at the age of 58.
"We had seen him [Bowler] on tape and liked him but wanted to confirm the chemistry between the two. But this morning we had Lindsay and Grant come into a room at Lifetime and the chemistry exploded," producer Larry Thompson told E! News Thursday. "It was just Fourth of July firecrackers going off in the room. We knew from the chemistry that Liz and Dick live again."
Bowler is best known for his work on TV's "True Blood" and "Ugly Betty."
Lohan's film credits include "Mean Girls," "Freaky Friday" and "The Parent Trap."
Taylor died last year at age 79. She won two Academy Awards and was married eight times, including twice to Burton. Her film credits include "National Velvet," "Father of the Bride," "A Place in the Sun," "Giant," "Cat on a Hot Tin Roof," "Suddenly, Last Summer," "BUtterfield 8," "Cleopatra" and "Who's Afraid of Virginia Woolf?"