Any background info? How young is he, and is he handfed? Is he done weaning?
I dunno if you posted a 'Welcome Home' thread, but how many days have you had your new little one?
It is easier when they are young, even easier if they were handfed properly... but they are still birds. Still in a new place, with a new person, and away from his clutchmates.
So honestly, it's the same process you've probably heard before. 100 times.
Start slow, sit nearby and let him get used to you. Talk, offer treats. Try to provide a way he can choose to come out of his cage on his own, and somewhere safe feeling he can go. Work at his speed.
Lovebirds specifically... Does he have a hut? If not, I bet he'd like one. When they are older they can cause nest issues, but if he's a baby he'll want a nest for security if nothing else.
Also, I think parrotlets love it as well, but millet can work magic when trying to bribe trust! You can start as slow as slipping a couple of segments through his cage bars when you approach and then just leaving if he's that afraid. When he starts to gain confidence, you can try offering him millet from your hands. Or any fresh food you find he likes, I hear lovebirds prefer vegetables but Peanut never has so you could try tempting him with fruit too.
I have trouble remembering the details (it was over 13 years ago) but I know I would sit a few feet away from Peanut's cage and read aloud to her. Her first cage had awful guillotine style doors that, after the first couple days when she started to seem less afraid and like she wanted to explore, I would hold open with a padlock.
She also regressed a bit (though I knew nothing about this at the time, just that she looked like she was looking for food from me) and once she wasn't so scared of my hands I was offering her mushy banana, yams, and unsweetened apple sauce from a fingertip. I don't think I discovered millet until later, but these comfort feedings probably helped her trust me once she was confidant enough to approach me.
We had met several times at the breeder before I brought her home too, which probably helped. She was also handfed by a wonderful, kind, lady so was already fairly tame and knew she could seek food/comfort from people. That likely made things much easier on both of us.
Also, supposedly, the eye ring species are more skittish than peach faced lovebirds, so you may need some extra love and patience.
