This study tested the degree to which self-disclosure mediates the effects of gender orientation and homophobia on relational satisfaction, closeness, and commitment in men’s same-sex friendships. Participants included 211 men from the southwest region of the US, who reported on either geographically close (n = 107) or long distance same-sex friendships (n = 104). Results indicated that self-disclosure mediates the positive effect of femininity on satisfaction, closeness, and commitment in men’s same-sex friendships. Self-disclosure also mediates the negative, indirect effects of homophobia on all three relational outcomes. Tests of structural invariance provided no evidence to suggest that the indirect effects of femininity and homophobia on all three relational outcomes vary as a function of geographic distance.