The 30-year-old will appear at Burnley Magistrates' Court next week alongside girlfriend Sarah Melia, following their arrest in May last year when 25 plants were allegedly discovered at his property in Bacup, Lancashire, the Daily Mail reports.
Police were called to the scene after reports of Latham rowing with another man who suffered an eye injury, and the actor was initially accused of assault, though no action was taken on this.
Latham is best known for playing Phillip 'Lip' Gallagher on the first five series of Shameless and briefly appeared on Eastenders last year as evil pimp Rob Grayson.
It was revealed on Tuesday (August 7) that Emmerdale star Seamus Gubbins (Ray Mullan) has been arrested on suspicion of running a cannabis farm.
The father of two, born in Ireland, could face a jail sentence of up to two years after being caught with between £12,500- and £24,800-worth of the drug.