Graph neural networks (GNNs) have gained great prevalence in tackling various analytical tasks on graph-structured data (i.e., networks). Typical GNNs and their variants adopt a message-passing principle that obtains network representations by the attribute propagates along network topology, which however ignores the rich textual semantics (e.g., local word-sequence) that exist in numerous real-world networks. Existing methods for text-rich networks integrate textual semantics by mainly using internal information such as topics or phrases/words, which often suffer from an inability to comprehensively mine the textual semantics, limiting the reciprocal guidance between network structure and textual semantics. To address these problems, we present a novel text-rich GNN with external knowledge (TeKo), in order to make full use of both structural and textual information within text-rich networks. Specifically, we first present a flexible heterogeneous semantic network that integrates high-quality entities as well as interactions among documents and entities. We then introduce two types of external knowledge, that is, structured triplets and unstructured entity descriptions, to gain a deeper insight into textual semantics. Furthermore, we devise a reciprocal convolutional mechanism for the constructed heterogeneous semantic network, enabling network structure and textual semantics to collaboratively enhance each other and learn high-level network representations. Extensive experiments illustrate that TeKo achieves state-of-the-art performance on a variety of text-rich networks as well as a large-scale e-commerce searching dataset.