The deal calls for Sheen to serve a 30-day sentence and three months probation, said Yale Galanter, an attorney for Brooke Mueller Sheen.
A judge must still approve the agreement. Sheen was expected to appear Monday in an Aspen court.
Prosecutors confirmed last week that Sheen had reached a plea agreement but released no details.
Neither Pitkin County prosecutors nor Sheen's attorney Richard Cummins immediately returned phone calls seeking comment.
Sheen, the star of the hit CBS show "Two and a Half Men," previously pleaded not guilty to menacing, criminal mischief and assault charges. The menacing charge carries a prison sentence of up to three years.
During the jail term, Galanter said, Sheen would be released during the day so he can work at Theatre Aspen. He could leave the jail for work at 8 a.m. and would have to return by 8 p.m.
"He's being sentenced to jail, and he's being released for work, thereby, it's work," Galanter said.
Paige Price, the theater's artistic director, said Sheen had agreed to work for free. His duties would include teaching a class for professional actors and possible fundraising for the nonprofit.
"We think it is community service in that it is a nonprofit," Price said.
Brooke Mueller Sheen approved the deal, Galanter said. She previously asked prosecutors to drop the charges against Sheen, but they refused, according to the lawyer.
He said prosecutors had offered a deferred sentence, whereby Sheen would plead guilty to a felony and charges would be dropped after two years, which is similar to the way other cases are resolved in Colorado.
Sheen has taken anger management classes and will present evidence showing he has completed a 36-hour course, Galanter said.
"They're both adults, and they have two beautiful babies together. I know they're working on it. I can tell you that no matter what happens, Charlie and Brooke will always be good friends," he said.
On Christmas Day, Brooke Mueller Sheen told police the actor had threatened to kill her after she told him she wanted a divorce. She said he straddled her on a bed with one hand on her neck and the other holding a knife.
Charlie Sheen told police he and his wife had argued but denied threatening her. He told officers they slapped each other on the arms and that he had snapped two pairs of her eyeglasses in front of her, according to an arrest warrant affidavit.
Sheen told police he was upset by the divorce threat. He previously went through a bitter divorce and custody battle with his previous wife Denise Richards.
Within a week of his arrest, Sheen and his wife both said they wanted to reconcile. In February, they hugged in an Aspen courtroom after a judge modified a restraining order that had kept them from contacting each other.
Since the incident, both have completed alcohol rehab programs, and Galanter has said they've been sober for months.
It's not the first run in with the law for Sheen, the star of films such as "Platoon," "Wall Street" and "Hot Shots!" who agreed last month to return to "Two and a Half Men" for two more seasons.
In December 1996, he was charged with attacking a girlfriend at his Southern California home. He later pleaded no contest and was placed on two years' probation.
In 1998, his father turned him in for violating his parole after a cocaine overdose sent him to the hospital. He was ordered to undergo a rehabilitation program.