Should I tell him I like him?

So, i really like this guy. I've liked him for about 7 months. We have very good chemistry when we have conversations, but at times he can be very quiet too. He's the first guy I've actually talked to and ended up liking, most of the time i just admire boys from afar. I use to try and talk to him on AIM and FB since we always had projects together but beyond project subjects he never really seemed interested. So I kinda gave up. I'm sure he knows I'm interested. Here and there I forget about him and ignore his existence but deep down I still like him just not as much at certain times. For some reason lately after all these months I've kinda been catching him peeking at me. He becomes alert when I enter the clroom and when we make eye contact. But he's very cool about it. Were gonna have another project soon and were always partners, should I tell him how I feel? Oh theres a dance coming up girls ask guys in this one but both of us are awkward when it comes to dancing. :(