Born in Lérida, Catalonia, Granados studied in Barcelona with Felipe Pedrell, the noted proponent of Spanish musical nationalism. He lived in Barcelona from 1889 and was active as a piano recitalist and teacher.

His masterpiece is the piano suite Goyescas (2 vol., 1912, 1914), inspired by works of the early 19th-century Spanish artist Francisco Goya. Themes from the piano suite were later used in an opera, also titled Goyescas (1916); it contains his famous Intermezzo for orchestra.

Among his other works are the 12 Danzas españolas for piano. He died March 24, 1916, aboard the SS Sussex, sunk during World War I.