Compile it under gcc with -Wunreachable-code.
I think that the more recent the version, the better results you'll get, but I may be wrong in my impression that it's something they've been actively working on. Note that this does flow analysis, but I don't believe it tells you about "code" which is already dead by the time it leaves the preprocessor, because that's never parsed by the compiler. It also won't detect e.g. exported functions which are never called, or special case handling code which just so happen to be impossible because nothing ever calls the function with that parameter - you need code coverage for that (and run the functional tests, not the unit tests. Unit tests are supposed to have 100% code coverage, and hence execute code paths which are 'dead' as far as the application is concerned). Still, with these limitations in mind it's an easy way to get started finding the most completely bollixed routines in the code base.
This CERT advisory lists some other tools for static dead code detection
