Malicious URL detection remains a major challenge in cybersecurity, primarily due to two factors: (1) the exponential growth of the Internet has led to an immense diversity of URLs, making generalized detection increasingly difficult; and (2) attackers are increasingly employing sophisticated obfuscation techniques to evade detection. We advocate that addressing these challenges fundamentally requires: (1) obtaining semantic understanding to improve generalization across vast and diverse URL sets, and (2) accurately modeling contextual relationships within the structural composition of URLs. In this paper, we propose a novel malicious URL detection method combining multi-granularity graph learning with semantic embedding to jointly capture semantic, character-level, and structural features for robust URL analysis. To model internal dependencies within URLs, we first construct dual-granularity URL graphs at both subword and character levels, where nodes represent URL tokens/characters and edges encode co-occurrence relationships. To obtain fine-grained embeddings, we initialize node representations using a character-level convolutional network. The two graphs are then processed through jointly trained Graph Convolutional Networks to learn consistent graph-level representations, enabling the model to capture complementary structural features that reflect co-occurrence patterns and character-level dependencies. Furthermore, we employ BERT to derive semantic representations of URLs for semantically aware understanding. Finally, we introduce a gated dynamic fusion network to combine the semantically enriched BERT representations with the jointly optimized graph vectors, further enhancing detection performance. We extensively evaluate our method across multiple challenging dimensions. Results show our method exceeds SOTA performance, including against large language models.