The "Wall Street" actor and the "Ghost" star will play two of five people caught in an elevator in the North Tower of the World Trace Center in New York the morning of the attacks in 2001, reported Contactmusic.
"We're hoping to debut the movie at the Toronto Film Festival on 9/11, because the movie is about 9/11," Sheen said.
"It's based on true events about five people in an elevator in the North tower... Whoopi Goldberg, Luis Guzman, myself..."
Sheen is also planning a return to TV following his stints in "Two and a Half Men and Anger Management".
Sheen was fired from "Two and a Half Men" because of his wild antics off set. He also lashed out at show producers and creator Chuck Lorre.