Yes and no. There are so many homonyms in Japanese. "Shuryō" can mean boss / leader, and also means hunting. (These two shuryōs are the same in romaji or kana, so it's homonym. However, the kanji are different and the meaning is provided by it (and by the context, of course), so it's homophone in this sense.)
I would use "shi / shishō" or "jogensha" for mentor. The former is close to master and the latter is adviser. (Notice that "shi" also means death or poem.)