This study investigated for the first time the relationship between internalized homophobia and shame in gay men. It also briefly re-examined the relationship between internalized homophobia and self-esteem in gay men. A sample of 100 gay men from a variety of sources responded to three questionnaires and a demographic survey. Findings included a significant positive relationship between shame and internalized homophobia and a significant inverse relationship between internalized homophobia and self-esteem. Additional findings included significant correlations between seven variables and internalized homophobia and between six variables and internalized shame.