Import existing C++ project into Xcode IDE
There are several ways you could do it, depending on the level of IDE integration you want. There's no direct way of importing a Makefile-based project into Xcode. You can create a project that builds via the Makefile, but you wouldn't get many of the benefits of using an IDE, since the editor features such as word completion rely on Xcode being able to parse the files in the project. You will be able to use the debugger though. To do this, create a new project and add a custom target with a script build phase that just calls down to Makefile.
If however the project you're building compiles very easily, ie without requiring a lot of macros to be set up, include paths, etc, then it may be simple to just create an empty project and merely add all source files to it. I've used this method extensively for building boost libraries. If this is a configure && make type project then you will probably have to run the configure step first, and ensure any top level config.h files are included in the project.
If the project has a complex makefile then it is likely to be an involved task to create a useful Xcode project
I realise you asked explicitly for Xcode, but in case you were actually trying to solve the problem of "I have existing C++ code which builds and runs fine from the command line, and I'd like to code and debug it in an IDE, what should I do?" my firm recommendation would be to avoid Xcode and go for Eclipse.
The reason is that as far as I can tell, Xcode has no way of ingesting the command line build environment and effectively requires you to recreate the make process inside Xcode from scratch. Fine for tiny projects, but anything with more than a few source files and it quickly becomes painful. Whereas in Eclipse everything is built around Makefiles. So in my case I got to the "step through code with working code completion" in Eclipse a lot quicker vs. never in Xcode. This of course could be because I'm an Xcode noob, but my 2c.