The sitcom - loosely based on the 2003 film of the same name - will star Sheen as Charlie, a therapist who suffers from his own anger issues.
Butler will play a bartender who works at Charlie's favourite haunt, according to Deadline.
Sheen was fired from CBS sitcom Two and a Half Men in early 2011 amid accusations of drug abuse.
Similarly, Butler's ABC sitcom Grace Under Fire was abruptly cancelled in 1998 following the star's painkiller addiction.
Both Two and a Half Men and Grace Under Fire were created by Chuck Lorre, who has insisted that he has no plans to watch Anger Management.
Two And A Half Men co-creator Lee Aronsohn appeared to react to Butler's casting on Twitter, writing: "Hmm… what could possibly be better than ONE bridge-burning loose cannon?"
Anger Management - which also stars Selma Blair and Noureen DeWulf - will premiere on FX in June.
> Two and a Half Men execs angry at Charlie Sheen Anger Management promo