GURPS Magic: A Tome of Mystic Secrets for Fantasy Roleplaying details the spell-point system and extensive list of spells that compose the default magical system for GURPS, Third Edition. The system is an expanded version of the one that appeared in the First Edition of GURPS Fantasy, minus all the Yrth-specific background and a few of the standard races. From the publisher's website:

The World of Magic

Sorcery, Thaumaturgy, The Black Art, Necromancer, Alchemy or the Great Art. By any name, arcane knowledge brings great power to its possessor . . . for good or for evil. This book is the complete guide to magic for the Generic Universal RolePlaying System.

GURPS Magic presents a colorful, detailed magic system. But it's much more. It is designed for easy modification . . . for the GM who wants to create his own background, or set adventures in the world of his favorite fantasy author. And it's flexible. Players can create any sort of wizard character they choose, from eager apprentice to mad hermit, from saintly healer to sinister necromancer.

This book is completely compatible with the magic rules in the GURPS Basic Set Third Edition. It amplifies the material there, as well as adding more than 300 new spells! Also included are a complete system for improvisational magic, optional rules for "inherent" magic abilities, special advantages and disadvantages for mages, and a system to let the GM create his own unique types of clerical magic.

If you're ready for a world of magic, it's in your hands

The Third Edition includes all the material from GURPS Grimore, and is listed as a separate entry.