Many graph-based machine learning models are known to be vulnerable to adversarial attacks, where even limited perturbations on input data can result in dramatic performance deterioration. Most existing works focus on moderate settings in which the attacker is either aware of the model structure and parameters (white-box), or able to send queries to fetch model information. In this paper, we propose a query-free black-box adversarial attack on graphs, in which the attacker has no knowledge of the target model and no query access to the model. With the mere observation of the graph topology, the proposed attack strategy flips a limited number of links to mislead the graph models. We prove that the impact of the flipped links on the target model can be quantified by spectral changes, and thus be approximated using the eigenvalue perturbation theory. Accordingly, we model the proposed attack strategy as an optimization problem, and adopt a greedy algorithm to select the links to be flipped. Due to its simplicity and scalability, the proposed model is not only generic in various graph-based models, but can be easily extended when different knowledge levels are accessible as well. Extensive experiments demonstrate the effectiveness and efficiency of the proposed model on various downstream tasks, as well as several different graph-based learning models.