Tough situation yours, boy.
I am in the same position as yours in a guy at my college. He is so cute! However, I know that if I tell him that I like him he won't be around me anymore. Now, does this boy is just straight, or sightly homophobic?
I know it is hard to believe, but most straight dudes are not homophobic. In fact, they even blush when a guy tells them they're cute (or hot *giggles*). Do you consider that he is homophobic or is thrown back to the idea of a guy liking him?
It is your whole decision, you know him better than what we might ever get to know him. Be sincere! At the end that is friendship about. However if you feel like he might get thrown away by the thought of his friend liking him, you might want to label yourself as his secret lover. :)
Best of the lucks.
Jean
-Who is my friend's Secret Lover.