According to The Sun, the former Manchester City and Liverpool winger has been charged with dangerous driving following the incident involving his £270,000 Lamborghini.
The 31-year-old is also accused of possessing nitrous oxide for wrongful inhalation and failing to provide a specimen.
The crash happened near the Minley Interchange, where the vehicle reportedly collided with motorway barriers.
No injuries were reported among Sterling or other road users. However, witness accounts concerning the manner of driving resulted in the serious charge.
Sterling has largely stayed out of the spotlight since the incident, making occasional social media appearances with his family.
The charges will now proceed through the legal process, with the winger facing the possibility of a prison sentence if convicted.