What is the best way to let someone know you're interested?

Anonymous
I've liked this guy for nearly a year now, recently we've been talking more and I can't stop thinking about him.
I want to let him know, but I don't really know how because I've never taken the initiative before. (Mainly because I've never liked anyone enough to take the risk)
Girls: how have you let people know before?
Guys: how would you want a girl to let you know?

Also we're friends so I'm not sure if I want to flat out tell him in case it makes things awkward between us.
What is the best way to let someone know you're interested?
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