"Working on a really great project for television- I am excited! Something meaningful like Extreme Home Makeover on ABC.. :)," Lohan wrote in her own Twitter post on Friday.
Seacrest would produce the project, sources told TMZ.com in a Saturday report. The show would follow a group of people "who are on the wrong track and are looking for a second chance."
A panel of judges -- including Lohan -- would ultimately decide who receives a $1 million prize, according to TMZ.
Last month, sources close to Lohan told ABC News that David Drew "Dr. Drew" Pinsky and Celebrity Rehab's producers were allegedly offering the actress "upwards of six figures" by to appear as a participant in an upcoming installment of the VH1 reality series.
DISCUSS AND COMMENT ON THIS STORY Reality TV World now offers Facebook Comments on our stories. To post a comment, log into Facebook and then 'Add' your comment. To report spam or abuse, click the 'X' in the upper right corner of the comment box. Get more Reality TV World! Follow us on Twitter, like us on Facebook or add our RSS feed.