According to New York police, the actor appeared highly intoxicated and was with an unknown woman, early Tuesday morning at The Plaza Hotel. The room had been trashed.
His publicist blamed an allergic reaction to medication. The actor was discharged Tuesday evening is now back in Los Angeles.
The 45-year-old was in New York on a family vacation. Richards, and their two children, Sam, 6, and Lola, 5, also were staying at the hotel in a different room.
Richards says she has "a lot of faith" in Sheen. She says because of their children, Sheen will be part of their lives "forever."
Sheen went with officials voluntarily for the psychiatric evaluation.
Appearing on "Good Morning America" on Wednesday, Gloria Allred who represented Brittany Ashland in a battery case against Sheen, claims the actor could be dangerous.
"I am concerned about the future," said Allred. "Is he presenting a danger to himself and a potential danger to other women?"
According to addiction expert Cary Quashen, Sheen may want to seek more help.
"When you are drinking it is crazy making stuff anyway, but when you are drinking alcohol and mixing medication you never know what can really happen," said Quashen. "I hope this shakes him up enough or maybe this is time for another round in a treatment center."
No charges have been filed against the "Two and a Half Men" star.
The Associated Press contributed to this report.