"In the last few years, things have gotten really great with us," the actress said during an appearance on HuffPost Live Tuesday. "We're very close and we're good friends, which is great because it's great for our kids."
Richards added that it was, of all things, Sheen's split from his other ex-wife, Brooke Mueller, that helped bring them closer together.
"This is awful to say, but it's true. When his third marriage started to fall apart, he and I started to become friendly," said Richards.
"From day one, I've always wanted to keep the kids a priority and suck it up for them, but it takes two people to do that. He sees the benefit, too, that when we get along, it's good for the kids. It's not fair to them to be around parents who can't stand each other."
Richards and Sheen themselves have two children together, daughters Sam and Lola.