No, Dwayne "The Rock" Johnson (born Dwayne Douglas Johnson on May 2, 1972 in Hayward, California) is not dead.
He like so many other celebrities of late, was the victim of an internet death hoax which stated he fell 60 feet to his death during the filming of a new movie at the Kauri Cliffs in New Zealand. This was actually an old hoax, first appearing in early May of this year, that's seems to be making the rounds again.
The Rock was not amused by the death hoax and tweeted "I would love to meet the person who is starting rumors of my death - to show them how a dead foot feels up their a**."
There is actually a website that creates these death hoaxes, all one needs to do is enter a name and gender and the site creates the hoax news report; these start floating around Facebook and Twitter, and with the onslaught of posts, people begin to believe it's true.
Johnson made news on September 4, 2012 (proving again, that he's alive) when folks began calling him a real live action hero. While shooting a scene for the upcoming The Fast and the Furious 6, Johnson saw some sketchy looking people around a van full of pricey equipment. He chased after them, with his fake FBI badge in hand, and they fled in terror.