The X-Men star will begin rehearsing for his role in the revival of A Life In The Theatre on 23 August (10), according to producer Jeffrey Richards.
A Life In the Theatre, about the relationship between an older performer and a younger actor, was first seen in Chicago, Illinois in 1977 and was later performed off-Broadway.
Neil Pepe, who took charge of the 2008 Broadway revival of Mamet's Speed-the-Plow, will direct. Stewart's younger co-star has yet to be cast.
The veteran star was last seen on Broadway in 2008, playing the title character in Macbeth.
The Frank D. Gilroy drama earned Sheen a 1965 Tony Award nomination after he originated the starring role of Timmy Cleary in the Broadway play, about a soldier whose parents' marital problems surface upon his return from war.
Sheen reprised the part in the 1968 screen adaptation.
Now 69, he will take on the role of John, Timmy’s father, in the new Neil Pepe production, which will open on 21 February (10) and play through 21 March (10).