Wait for you two to be alone.
Don't yell it out with all your friends around or his, because then he'll feel pressured into telling you an unhonest answer.
Request to go out on a date with him or to simply hang out alone.
The best way to bring it up is to wait until he says something that you like or find funny.
For example, "Oh my goodness, a KITTY!" "Ahhha, oh man, I love you Austin."
Or, "You have such beautiful eyes." "I love it when you say things like that."
You might want to try talking about love a bit around him first, and see how he reacts.
And if he seems comfortable with the word, and you don't know when the right time to say it is,
wait for a pause in the conversation. Then take his hand and stare directly in his eyes,
"Austin, we've been dating for awhile now, and I really really like you... I think I may love you."
Do a cute, shy smile and see how he responds.
If he feels the same, he'll probably say so.
If he doesn't, then don't get too upset. Love is a big thing, and most guys will run away from it.
Just keep dating like normal after his answer, and don't be worried if he says he doesnt actually "love you" yet.
Good luck! ;D