Shooting on the slightly shortened seventh season of CBS' top-rated comedy wraps up April 9 and then Sheen is moving on, a source told the magazine.
The network has no comment at this time; Sheen's rep would only confirm that the lucrative contract that made the 44-year-old big-screen veteran the highest-paid sitcom star is only inked through the end of this season.
"Charlie is not commenting," publicist Stan Rosenfield told E! News. "The People story only references what he has told friends."
Either way, this has been a pretty dodgy season for the four-time Emmy nominee...
Sheen returned to work March 16 after a brief stay in rehab to deal with the various issues that may have contributed to his allegedly violent fight with wife Brooke Mueller, which has Sheen facing a felony menacing charge.
Sheen has pleaded not guilty to domestic violence charges in Aspen, and he and the missus are said to be working things out. Mueller has also sought treatment for substance abuse since their Christmas Day argument.
Then again, this could always be a negotiating ploy, considering Two and a Half Men's cash cow status at CBS and how Sheen is the star that keeps viewers coming back for more.
A rep for Warner Bros. tells E! News the studio does not comment on "contracts or negotiations."
Meanwhile, this supposed desire to jump ship while Two and a Half Men is still a success can't help but bring to mind Alec Baldwin's suspect remarks in 2007—in the aftermath of that embarrassing voicemail to daughter Ireland—about wanting to leave 30 Rock.
Memo to Sheen: In case you missed this year's Oscars, Baldwin made the right choice by staying put.
Matt Damon's coming to 30 Rock, just another fine piece of TV Celebrity Stunt Casting.