The name "Dorian" has connotations of the Dorians, an ancient Hellenic tribe. Robert Mighall suggests that this could be Wilde hinting at a connection to "Greek love", a euphemism for the homoeroticism that was accepted as everyday in ancient Greece. Indeed, Dorian is described using the semantic field of the Greek Gods, being likened to Adonis, a person who looks as if "he were made of ivory and rose-leaves." However, Wilde does not mention any homosexual acts explicitly, and descriptions of Dorian's "sins" are often vague, although there does appear to be an element of homoeroticism in the competition between Lord Henry and Basil, both of whom compete for Dorian's attention. Both of them make comments about Dorian in praise of his good looks and youthful demeanour, Basil going as far to say that "as long as I live, the personality of Dorian Gray will dominate me." However, whilst Basil is shunned, Dorian wishes to emulate Lord Henry, which in turn rouses Lord Henry from his "characteristic languor to a desire to influence Dorian, a process that is itself a sublimated expression of homosexuality."

The later corruption of Dorian seems to make what was once a boyish charm become a destructive influence. Basil asks why Dorian's "friendship is so fatal to young men", commenting upon the "shame and sorrow" that the father of one of the disgraced boys displays. Dorian only destroys these men when he becomes "intimate" with them, suggesting that the friendships between Dorian and the men in question become more than simply Platonic. The shame associated with these relationships is bipartite: the families of the boys are upset that their sons may have indulged in a homosexual relationship with Dorian Gray, and also feel shame that they have now lost their place in society, their names having been sullied; their loss of status is encapsulated in Basil's questioning of Dorian: speaking of the Duke of Perth, a disgraced friend of Dorian's, he asks "what gentleman would associate with him?"