how to approach a really, really shy guy?

[CLICK9]

this has been bugging me for a long time. There's a guy in my department at school who always smiles and looks at me, but never will say hi or anything. I usually see him walking around or studying by himself but sometimes he's with one of his guy buddies (he never talks to girls). Do you think I have a chance or is he just being a tease? I hate being the initiator!!!!!