Graph edit distance / similarity is widely used in many tasks, such as graph similarity search, binary function analysis, and graph clustering. However, computing the exact graph edit distance (GED) or maximum common subgraph (MCS) between two graphs is known to be NP-hard. In this paper, we propose the hierarchical graph matching network (HGMN), which learns to compute graph similarity from data. HGMN is motivated by the observation that two similar graphs should also be similar when they are compressed into more compact graphs. HGMN utilizes multiple stages of hierarchical clustering to organize a graph into successively more compact graphs. At each stage, the earth mover distance (EMD) is adopted to obtain a one-to-one mapping between the nodes in two graphs (on which graph similarity is to be computed), and a correlation matrix is also derived from the embeddings of the nodes in the two graphs. The correlation matrices from all stages are used as input for a convolutional neural network (CNN), which is trained to predict graph similarity by minimizing the mean squared error (MSE). Experimental evaluation on 4 datasets in different domains and 4 performance metrics shows that HGMN consistently outperforms existing baselines in the accuracy of graph similarity approximation.