diff --git a/src/check_asm.cpp b/src/check_asm.cpp
index 9be4bcd03..fe2f7d585 100644
--- a/src/check_asm.cpp
+++ b/src/check_asm.cpp
@@ -1502,6 +1502,9 @@ gb_internal void check_asm_instruction_operand(AsmCtx *asm_ctx, CheckerContext *
 			error(expr, "Undeclared asm label '.%.*s'", LIT(name->token.string));
 		}
 		name->entity = found;
+		if (found != nullptr) {
+			found->flags |= EntityFlag_Used;
+		}
 
 		add_type_and_value(ctx, expr, Addressing_Value, found->type, {});
 		return;
@@ -1844,6 +1847,14 @@ gb_internal void check_asm_template(AsmCtx *asm_ctx, CheckerContext *ctx, Entity
 		}
 	}
 
+	for (auto const &entry : ate->label_scope->elements) {
+		Entity *le = entry.value;
+		GB_ASSERT(le != nullptr);
+		if ((le->flags & EntityFlag_Used) == 0) {
+			warning(le->token, "'asm' label '.%.*s' is declared but never reference by any instruction", LIT(le->token.string));
+		}
+	}
+
 	GB_ASSERT(entity->kind == Entity_AsmTemplate);
 	if (results->Tuple.variables.count == 0 && !entity->AsmTemplate.is_volatile &&
 	    !entity->AsmTemplate.clobber_memory &&