The truth about those gay rumors — JAMES FRANCO‘s amazing confession!

Franco, who’s played openly gay characters on film like Scott Smith in Milk and beat poet Allen Ginsberg in indie Howl, reveals his sexual proclivity in latest ish of gay mag The Advocate.

He’s NOT gay – he told the gay mag.

"Some people think I’m gay because I’ve played these gay roles," Franco said.

"But it’s not true . . .  I’m not gay.

"I’d tell you if I was. I guess the reason I wouldn’t is because I’d be worried that it would hurt my career. I suppose that’s the reason one wouldn’t do that. But no, that wouldn’t be something that would deter me.

"I’m going to do projects that I want to do."

Franco also took the time to clear up long-standing rumors he was an extreme pothead thanks to his role in Pineapple Express.

"Everyone thinks I’m a stoner.  I don’t smoke pot."