It's obviously possible to read a lot of Che Guevara into the character written by Tim Rice (and scored by Andrew Lloyd Webber), but the part was not written as Guevara himself.
The website of Broadway Dallas (a presenter of musicals in that city, introducing a production of Evita) describes Che as "the charismatic, passionate, hopeful yet cynical guide through the events of Evita's life. As he narrates, he is present in many scenes, playing different 'roles' to provide insight, criticism and commentary from a variety of perspectives."
Broadway Dallas goes on to explain that "In Argentina people use the expression 'che' in the way that English speakers use 'hey' to attract someone's attention. Argentineans often begin conversations with 'Che (name) how are you etc ... ' As a term of affection it can also be used in the way we might say chum or buddy. Che therefore seemed an appropriate name for the narrator character of Evita. During discussions about the original 1978 production of Evita, the character evolved into a representation of the revolutionary Che Guevara although he would never actually have met Eva Perón. For this new production the creative team have returned the narrator figure's anonymous status. As an everyman character Che is able to comment more naturally, and directly, on the developments in Eva's life and career."
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