The former Two and a Half Men comedian allegedly handed the hefty sum to the 26 year old, his co-star in the forthcoming Scary Movie 5, after discovering she owes more than $233,904 (£146,190) in taxes to America's Internal Revenue Service.
Sheen has not confirmed the exact amount of his generous gift, but he recently claimed the money was simply to help Lohan's cash flow after she failed to receive payment for another project - although he was a little annoyed that the Mean Girls star had yet to thank him for the favour.
He said, "She's a very good and decent young lady that is just going through a lot. They owed her money, didn't pay her, so I took care of it. My whole code's about pay it forward.
"She got shorted and I found out, so I said, 'Here.' I'm still waiting for a text to say thank you. Anything, anything, you know?"
His comments subsequently reached Lohan, and she promptly had a bouquet of flowers sent to Sheen to apologise for the delay and show her appreciation for his act of kindness, according to Tmz.com.
The website reports Lohan was unable to personally thank him via text earlier because she had lost her phone and all of her contacts.