The 'Party in the USA' singer will apparently appear in several episodes as Jake Harper (Angus T Jones)'s new love interest, sources have told E! News.
Cyrus's character has been described as "sexy" and "rife with comedy" by an insider.
A representative for Cyrus has not commented on the casting rumour, nor has CBS.
Ashton Kutcher and Jon Cryer both return for Two and a Half Men's tenth season, which begins on Thursday, September 27 at 8.30/7.30c on CBS.
Last weekend, Cyrus showed off her new short hairstyle in an image posted on her official Twitter feed.
Watch Miley Cyrus's 'Party in the USA' music video below: