Python and Doxygen — Automatically Document Your Python Code
You may have heard of Doxygen, a program that generates source code documentation by directly reading the source files and extracting the documentation from there. Unfortunately, doxygen can’t read Python code directly (it was originally written to extract documentation from C/C code). However, it is possible to apply a filter to an input file and doxygen will then process the filtered result. And this is what you can get right here, a filter that transforms Python code into C stubs so that doxygen can process the documentation.
I’ve since tried HappyDoc and I’m happy with it. It does a good job of working right out of the box with minimal configuration.
http://happydoc.sourceforge.net/