The actor was alerted to the fact his car had been stolen from his garage by staff at in-vehicle security system company OnStar, who also contacted the police to report the fact the vehicle had crashed over a barrier on Los Angeles' Mulholland Drive and was at the bottom of a cliff.
When police arrived at the crash site, there was no one in the car.
Sources tell U.S. news show Entertainment Tonight that they have reviewed the security tapes to see who was driving the car when it left the gated community where Sheen lives.
Police reports suggest Sheen left the vehicle in his unlocked garage with the keys in the ignition.
The saga comes amid reports suggesting Sheen awaits impending arrest and felony menacing charges in relation to his Christmas Day (25Dec09) fight with his wife Brooke Mueller, which landed him behind bars in Aspen, Colorado.
Sheen and Mueller are scheduled to appear in court on Monday (08Feb10) - when lawyers for the estranged couple will request a judge relax the terms of a restraining order, which has kept the two apart since their fight.