Hotel security called police at 2am on Tuesday after Sheen, who had been out partying, allegedly threw tables and chairs around the suite at Manhattan's famed Plaza Hotel.
A chandelier was also allegedly damaged in the late-night incident, the New York Post reports.
Sheen, 45, had to be taken to hospital for unspecified reasons and was accompanied by ex-wife Denise Richards, who is staying in a separate room at the hotel.
Insiders say that Sheen told police he had been 'out partying' before returning to the hotel.
After returning to his room with an unidentified woman he realised his wallet was missing and reportedly flew into a rage.
Richards is currently visiting New York with the two children she had with Sheen during their marriage.
She is promoting her TV show Blue Mountain State but spent the weekend in the city with Sheen.
Sheen currently has a break in his shooting schedule from hit TV sitcom Two and a Half Men.