No network is attached to the series, which will be produced by Lionsgate Television and distributed by a subsidiary, Debmar-Mercury, the company announced Monday.
No co-stars or production start date were disclosed.
Sheen will retain a "significant ownership stake" in the series, said Lionsgate.
In the film, which starred Jack Nicholson and Adam Sandler, a mild-mannered man is ordered to attend group anger-management sessions led by a therapist who needs therapy himself.
