Speaking to Australian radio station Triple M Sydney on The Grill show, Slash - himself a reformed drug addict - said: "I love Charlie - he's probably the most rock n' roll character in entertainment today.
"He's been managing to get away with what he's been doing on that show and get a raise for more than 10 years. I think that's pretty cool."
Charlie's erratic behavior and public attack on 'Two and a Half Men' creator Chuck Lorre have led to production on the hit series being halted and have led to questions about his well-being.
However, he has undergone home rehab treatment and has insisted he is currently clean, even passing drug tests prior to giving interviews.
Despite the apparent chaos in his life, the 45-year-old actor has revealed he is now concentrating on his family, which includes two daughters, Sam, six, and Lola, five, from his marriage to Denise Richards and 23-month-old twin boys, Bob and Max, from his marriage to Brooke Mueller.
Referring to his sons, Charlie - who also has an adult daughter Cassandra from a previous relationship - told E! News: "The babies live with me, they're in the kitchen right now. They run around and they're as fun as you can imagine.
They say 'Dada' and run into walls. And Dada is cool, but when they run into walls I say, 'Don't do that, that's retarded.' "
Charlie also isn't worried about being currently being jobless, adding: "I'll do a cologne and a book, I'll do a movie, I got people lunging at me.