Multimodal Large Language Models (MLLMs) have demonstrated remarkable capabilities in representing and understanding diverse modalities. However, they typically focus on modality alignment in a pairwise manner while overlooking structural relationships across data points. Integrating multimodality with structured graph information (i.e., multimodal graphs, MMGs) is essential for real-world applications such as social networks, healthcare, and recommendation systems. Existing MMG learning methods fall into three paradigms based on how they leverage MLLMs: Encoder, Aligner, and Predictor. MLLM-as-Encoder focuses on enhancing graph neural networks (GNNs) via multimodal feature fusion; MLLM-as-Aligner aligns multimodal attributes in language or hidden space to enable LLM-based graph reasoning; MLLM-as-Predictor treats MLLMs as standalone reasoners with in-context learning or fine-tuning. Despite their advances, the MMG field lacks a unified benchmark to fairly evaluate across these approaches, making it unclear what progress has been made. To bridge this gap, we present Graph-MLLM, a comprehensive benchmark for multimodal graph learning by systematically evaluating these three paradigms across six datasets with different domains. Through extensive experiments, we observe that jointly considering the visual and textual attributes of the nodes benefits graph learning, even when using pre-trained text-to-image alignment models (e.g., CLIP) as encoders. We also find that converting visual attributes into textual descriptions further improves performance compared to directly using visual inputs. Moreover, we observe that fine-tuning MLLMs on specific MMGs can achieve state-of-the-art results in most scenarios, even without explicit graph structure information. We hope that our open-sourced library will facilitate rapid, equitable evaluation and inspire further innovative research in this field.