The Delhi Belly star appears in the new issue of Bombay Dost.
Wearing faded jeans and a pigeon-imaged T-shirt, he poses above the tagline: "A Bollywood Brokeback... Why not? Imran Khan comes out with a startling revelation."
Khan told the magazine: "It is flattering to be called a gay icon. I have always been a supporter of gay rights."
Devansh Patel, Bollywood columnist with the Harrow Observer, told Digital Spy: "Imran Khan has been a strong supporter for the gay community in India and across the globe.
"So him being on the cover should be a much-needed boost for the gay community, that they've got one of India's top actors to back them."
Khan appeared to kiss Ranbir Kapoor on the lips while filming an episode of Koffee with Karan earlier this year.
The two stars also featured in a parody of Tarun Mansukhani's gay-themed release Dostana while hosting the 2009 Filmfare Awards.
Celina Jaitley is the Hindi film figure considered to be the most widely associated with the Indian gay rights movement.
