The actress - who completed a court-ordered 90-day rehab stint last month and is currently awaiting trial over the alleged theft of a $2,500 necklace - is reportedly "struggling" to find work after her recent troubles.
American photographer Terry Richardson has now persuaded the 24-year-old star - alongside her former love interest James Franco - to appear in the publication, which will feature "full frontal nudity" and "graphic" shots.
An insider told the Daily Mirror newspaper: "Lindsay is struggling to get another break in Hollywood. There`s a stigma attached to working with her and she is determined to change this - starting with the photographic book.
"Terry Richardson has persuaded Lindsay and James to get involved. He has assured them it will be provocative but tasteful. There will be a lot of nakedness - some of it graphic and suggestive - but it will be a real statement book.
"Obviously there will be comparisons to Madonna`s 1992 `Sex` book. But James and Lindsay believe theirs will be classier."
Meanwhile, the `Mean Girls` star will also be giving an exclusive tell-all TV interview to talk show host David Letterman in April in the hope of rebuilding her damaged reputation.
The source added: "Lindsay wants people to see the real her, not this drunken, out of control caricature she has become."
Lindsay is currently on probation for driving under the influence (DUI) in 2007 after spending 14 days of a 90-day jail sentence behind bars in July 2010.