Sheen told TMZ Sunday, "I have a kinship with somebody who clearly needs a mentor, whether she wants one or not. She can continue to hang out with her dress-shredding club buddies, or turn to me for some advice from a guy who's been down the road as well as every other side trail on the journey."
He added, "If she listens, she'll win. If she doesn't, that's on her."
Sheen and Lohan became friends while working together on "Scary Movie 5," which is due out in April.
Last December, Sheen told "ET" he wrote Lohan a check for an unspecified amount. Now, Lohan is set to appear as herself on an upcoming episode of Sheen's FX sitcom "Anger Management."
Sheen said there's no ulterior motive to his generosity.
"I love her, I respect her, and I've never laid a finger on her that wasn't on film. How ya like me now, America?"
Despite Sheen's kindness, TMZ is reporting that Lohan has declined his mentorship offer.