In the general case, graph equality is in NP, and thus is essentially impossible to solve. However if you're concerned about vertex labels being equal as well, then it suffices to iterate over all edges in both graph and make sure each is in the other graph as well.
Edit: If the vertex labels (values associated with each vertex) are the same on both graphs, and are unique and comparable, we can check isomorphism in O(V lg V + E lg E) easily, like so:
If |G1| != |G2|, the graphs are non-equal. Abort.
i = 0
For each vertex V in G1:
G1_M[Label(V)] = V
G1_I[V] = i
i = i + 1
For each vertex V in G1:
G1_E[V] = sort(map(λDestination -> G1_I[Destination]) Edges[V])
For each vertex V in G2:
If G1_M[Label(V)] does not exist, the graphs are non-equal. Abort.
G2_corresp[V] = G1_M[Label(V)]
G2_I[V] = G1_I[G2_corresp[V]]
For each vertex V in G2:
G1_E[V] = sort(map(λDestination -> G2_I[Destination]) Edges[V])
Compare G1_E[G2_corresp[V]] and G2_E[V]. If non-equal, the graphs are non-equal. Abort.
If we get here, the graphs are equal.