I think that everyone needs a different degree of physical attraction in their relationships to make them work. Some people work on other levels to the point that physical attraction takes little or no part in their overall appraisal of their relationship. Other people need a fairly high level of physical attraction in order to give the relationship the spark they need to stay motivated.
I would recommend that you look at how important physical attraction is to you overall before making any moves. Remember that you can love friends deeply without loving them romantically. It sounds like your friend however loves you romantically in addition to loving you as a friend.
I know from experience that it is possible to find people who are wonderfully attractive and fantastic in every other way as well. It really depends on what your overall experience has been. Have you dated much? How does your friend "stack up" to the people that you've dated? Have you been in any "relationships"? If so how have they ended and what were the issues that ended them? Do you see any of those issues potentially popping up with your friend?
Originally Posted by Beachbnny
Be careful with him! Don't just "give it a whirl" and take his feeling for granted. Poor guy. I'd have to say he deserves to be with someone who loves him too and if he's as wonderful as you say, maybe you will someday. Attraction does eb and flow and isn't usually constant but if you're not attracted to him at all I worry about him getting hurt.
So just... treat him well
I strongly agree with Beachbnny, if you do move forward I would do so carefully.
In fact if you haven't already done so, I think it might be a better idea to take a whirl with someone you find very attractive first. That way you can find out where attraction fits in your overall picture and how important it is to you.
It might be difficult to see someone else without hurting your friend since he's told you he loves you. He might be satisfied with an explanation that you aren't ready to stop dating yet, but then again he might not.
After writing all of that I'm coming back to my standard answer again. I think the thing you should do is look inside of your heart and search for what feels right. If it feels right to move your friendship towards a romantic relationship then do so. If it doesn't feel right to you then don't do it.