The magnitude of a graph can be thought of as an integer power series associated to a graph; Leinster introduced it using his idea of magnitude of a metric space. Here we introduce a bigraded homology theory for graphs which has the magnitude as its graded Euler characteristic. This is a categoriﬁcation of the magnitude in the same spirit as Khovanov homology is a categoriﬁcation of the Jones polynomial. We show how properties of magnitude proved by Leinster categorify to properties such as a Kunneth Theorem and a Mayer-Vietoris Theorem. We prove that joins of graphs have their homology supported on the diagonal. Finally, we give various computer calculated examples.