A report had claimed that Sheen has signed a deal with Lionsgate Television to make a new sitcom and that TBS was the frontrunner to broadcast the show. However, a representative for the cable channel, which is home to talkshow hosts George Lopez and Conan O'Brien, categorically denied the claims made by Radar Online.
"TBS is not in discussions for a possible project with Charlie Sheen," the spokesperson told The Hollywood Reporter.
Representatives for Lionsgate Television have not offered comment on the reports.
It has also been rumoured that Sheen's Two and a Half Men character Charlie Harper will be killed off when a new series of the show begins filming later this summer.
Sheen was dismissed from the CBS sitcom by producers Warner Bros Television in March following the actor's controversial remarks about show creator Chuck Lorre.
Ashton Kutcher joined the cast of Two and a Half Men in May. A ninth season of the show is expected to launch this autumn.