He was born on March 13, 1971 in Kayseri. While he was in high school, he was active in the theater branch of the school. He received the "best actor" award at the inter-high school theater festival. In 1991, he started his theater education at "Müjdat Gezen Art Center" and graduated in 1995. Professionally, he acted in TV series, theater, cinema and commercials.

In 1994, she made her first TV series experience with Şehnaz Tango, starring Perran Kutman and Erdal Özyağcılar. In the following years, she starred in the TV series Yedi Tepe Istanbul, Half Apple, Life Knowledge, Aşkım Aşkım, Gönülçelen, İstanbulun Altınları, 20 Minutes, Avrupa Avrupa, Roman Havası, Hayati ve Diğerleri, Gençliğim Eyvah.
Karacaoğlu also starred in the acclaimed series Kahpe Byzantium, Construction, Son of the Man Who Saved the World, Ottoman Republic, Yaşamak Güzel Şey, Cingöz Recai: The Return of a Legend, Ailecek Şaşkınız movies.

Günay Karacaoğlu was awarded the Muhsin Ertuğrul Theater Awards, "Best Actor Award in Comedy", Sadri Alışık Theater Awards, "Best Actor Award in Comedy" and Afife Jale Theater Awards, "Best Actor Award in Comedy" respectively in 2009. He continues his series, cinema and theater life with the theater plays Basit Bir Ev Kazası, Aşk Ölsün, Don Kişot'um Ben.