The unemployed actor paid a surprise visit to Jimmy Kimmel Live! where he interrupted an interview with Mark Cuban, the owner of U.S. TV channel HDNet, who is said to be negotiating plans for a reality series about Sheen.
Cuban was being quizzed about the potential project when Sheen stormed onto the set, shouting curse words and venturing into the audience to 'high five' stunned guests.
He then proceeded to kiss Kimmel on the lips before handing out T-shirts printed with his famous catchphrases.
Before leaving, Sheen pulled out what he called a "very special gift" for Kimmel - a mug with cartoon pictures of a fox taped to it.
He told the host, "It's a mug with a fox on it. I'll let you figure it out, my man."
Rumours have been rife that Sheen has met with Fox executives about the possibility of relaunching his career with a new TV show, following his dismissal from long-running CBS sitcom Two and a Half Men.
He has also fuelled the gossip with a suggestive post on his Twitter.com page, which features a picture of the Fox logo with the words, "Perhaps a new lair...? A Fox and a Warlock? Epic. Ybw (you've been warned)."