diff --git a/target-i386/helper.c b/target-i386/helper.c
index 46aa7b1ca6fe602423f90e22448a4a74ca7a9384..3a6568e05b206cb2b467614b5d5d84e4b00a443c 100644
--- a/target-i386/helper.c
+++ b/target-i386/helper.c
@@ -1574,6 +1574,7 @@ static inline void helper_ret_protected(int shift, int is_iret, int addend)
     sp_mask = get_sp_mask(env->segs[R_SS].flags);
     sp = ESP;
     ssp = env->segs[R_SS].base;
+    new_eflags = 0; /* avoid warning */
     if (shift == 1) {
         /* 32 bits */
         POPL(ssp, sp, sp_mask, new_eip);