The aim of this research was to evaluate the mediating effect of psychological distress, between internalized homophobia and suicidal risk in a sample of men belonging to sexual minorities in the city of Arica (Chile). The sample consisted of 157 men between 18 and 53 years of age (M=24.4, DT=5.49), recruited by availability and snowball technique. The Internalized Homophobia Scale, the Symptom Inventory and the Scale of Suicide Risk were applied. The results obtained account for a mediating effect of psychological distress between internalized homophobia and suicidal risk, that is, the suicidal risk increases when internalized homophobia and psychological discomfort as a third variable are included in the model. In conclusion, the importance of the reduction of internalized homophobia and psychological distress should be emphasized in psychosocial interventions with men of sexual minorities with the purpose of contributing to the development of their mental health.