According to reports, the Motley Crue frontman will plead guilty to a DUI charge on 26 January and surrender to Las Vegas officials on 15 February.
He will serve 15 days in the Clark County Detention Center, followed by another 15 days of house arrest.
A statement from the rock star reads, "I have recognised that you can't drink and drive at all. I take full responsibility for my actions and will learn from this experience."
Neil initially pleaded not guilty to misdemeanour drink driving and speeding charges stemming from an arrest in Las Vegas in June.
He was accused of driving his luxury Lamborghini sports car 60 miles per hour in a 45 mile per hour zone near the Vegas Strip, while over the legal alcohol limit.
He failed three field sobriety tests and had a blood-alcohol level almost three times the legal limit.
Neil was sentenced to 30 days in jail and five years probation in 1984 for his part in a car crash that claimed the life of Hanoi Rocks star Nicholas Dingley. He was driving under the influence at the time.
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