How to tell your parents you're dating?

I'm 18 and I recently started dating my bf. We've known each other for a couple years and have been very close friends for months. We both have the same friend group, and we're pretty close as a squad as we hang out all the time. We recently both admitted we liked each other and now we're a pretty new couple. Most of our friends are pretty supportive, but I don't know how/when to tell my parents. They know him, and he's been over a few times before we dated. They've teased me about dating him before, but this is my first boyfriend and it's something I never talk to them about. My close friends know, but not my siblings or parents...How should I tell them??