I'm familiar with the 2002 Vertigo Graphic Novel that G Vallejo mentioned, simply titled Lovecraft. The back of the book is plastered with "rave reviews" from people like John Carpenter, Clive Barker and Guillermo del Toro but in my experience most Lovecraft fans don't seem to think very much of it, myself included. Hite labels it the "most predictable" Lovecraft/Mythos comic you'll ever read and criticizes the "psychobabble" interpretation of Lovecraft's life. Also the whole idea of Lovecraft moonlighting as an Indian Jones-style adventure fighting monsters - also seen in Image's "The Strange Adventures of H.P. Lovecraft" - is a really dumb idea, IMHO.

Of course, in saying that I have to add the caveat that The Necronauts is a comic in which Lovecraft encounters his own Mythos and learns that it's real. The difference, and what makes this book so great however, is that Reenie doesn't have Lovecraft turning into Harrison Ford, Lovecraft acts like Lovecraft. Also being British Reenie is also able and willing to leave all of the ugly racism that goes with the Mythos intact. In Vertigo's Lovecraft they change the name of H.P.'s cat to Necro-man (take a wild guess what the cat's real name was, hint it still starts with an "N" ) for no other reason than political correctness.