The troubled star's reflections will be used as the basis for an autobiography, detailing her descent from child star to her spell in court-ordered rehab.
The deal is said to be ready to be signed with respected publisher HarperCollins, after Lohan's representatives offered sample pages of the proposed book.
'It’s more or less an autobiography, but she had a minimal number of sample pages,' a publishing source told the New York PostPage Six.
Lindsay’s agent, Scott Waxman, had meeting with various publishing houses.
But his initial attempts to win offers of $5million were unsuccessful amid concerns Lohan would not deliver the finished book.
'There was initial interest, but everybody backed off. There was concern she wouldn’t deliver,' the source told Page Six.
In it she is seen reading sections of her journal to her mother.
Speaking to Jimmy Fallon on Thursday night LiLo
stressed that she and Oprah Winfrey have 'a really strong bond'.
Her claim belies a the tense trailer where the media mogul snaps: 'You need to cut the bulls***.'
'It is a television show so they want ratings,' reassured the troubled star, who scored a $2 million paycheck for the show.
'They picked the first two months after I got back to New York after I had been in treatment. I became really spiritual over this past year and I have been trying to find peace and serenity in my life.'