We propose a new algorithm for solving the graph-fused lasso (GFL), a regularized model that operates under the assumption that the signal tends to be locally constant over a predefined graph structure. The proposed method applies a novel decomposition of the objective function for the alternating direction method of multipliers (ADMM) algorithm. While ADMM has been widely used in fused lasso problems, existing works such as the network lasso decompose the objective function into the loss function component and the total variation penalty component. In contrast, based on the graph matching technique in graph theory, we propose a new method of decomposition that separates the objective function into two components, where one component is the loss function plus part of the total variation penalty, and the other component is the remaining total variation penalty. We develop an exact convergence rate of the proposed algorithm by developing a general theory on the local convergence of ADMM. Compared with the network lasso algorithm, our algorithm has a faster exact linear convergence rate (although in the same order as for the network lasso). It also enjoys a smaller computational cost per iteration, thus converges overall faster in most numerical examples.