'He's met with various producers,' a source told the mag. 'He'd really open up and allow the cameras inside his world.'
The actor revealed to the world in November that he was HIV positive, having been diagnosed around four years earlier.
Although he insisted he was upfront about his condition with all of his sexual partners, a number of them have come forward threatening legal action to the contrary.
Sheen was last seen on screen in his FX series Anger Management, which was cancelled after its 100th episode in December 2014.
Before that he had been the highest paid actor on TV, earning $1.8million per episode of Two And A Half Men.
Producers of the potential new show will be well aware of Sheen's hell-raising past on set; he was fired from the show after having a very public fall-out with show creator Chuck Lorre.
What followed was Charlie's 'winning' meltdown, in which he made increasingly bizarre appearances and statements about being a warlock and having tiger blood.
Indeed Selma Blair was dropped from Anger Management after complaining about Sheen's work ethic, after which he refused to return to the show until she was replaced.
Last week Sheen physician Dr Robert Huizenga told Entertainment Tonight that the Hot Shots star is 'doing phenomenal' healthwise.
'He's on a new experimental medication for HIV,' he confirmed.
'He is living up to his promise to use his celebrity status not only to alert the country and the world of these incredible needs for better HIV treatment — especially in the over two-thirds or three-quarters that aren't getting proper HIV medication — but he's also kind of pioneering the way with new treatments.
'I'm really proud of everything he's done and his continued commitment to HIV education,' he added.
Huizenga, an associate clinical professor of medicine at UCLA and a The Biggest Loser regular, testified at the time of Sheen's revelation that the viral load in his blood was 'undetectable'.