Should I tell him how I feel?

Full story- I met this guy at my music school last year during a band tour and realized as soon as we got home that I'm in love with him. On tour, he seemed to be falling for me-- I was hooked on someone else, which ended pretty soon after. I don't know if he knows that, though.
As we were in the same tour group, we got pretty close, and became really good friends. Every time we see each other nowadays or say goodbye we hug naturally, as if there were no other way things should be. One of my friends said she asked him and he told her that he doesn't have feelings for me, but I still feel like I owe it to him to tell him the truth.
We don't live in the same town, so we see each other on the weekends for six hours every two days. Seeing as this will be the case for the next two years until he graduates (in addition to two more tours, aka 20 total days of basically living together overseas with our friends), is it worth it to tell him how I feel? Or am I better off trying to give up on him, considering that telling him and getting a big no will ruin our friendship for the future?
Should I tell him how I feel?
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