A well-known Turkish comedy actor. Karakaya educated in Kabataş Erkek Lisesi. He took part in several stage and film productions between years 1955 and 2002. He is best remembered with his famous character "Cilalı İbo" (Ibo the Polished). He died of heart failure at the age of 76. Due to his competent Molière interpretations, he was awarded with Légion d'Honneur.

He was laid to rest at the Zincirlikuyu Cemetery following the religious funeral ceremony held in Teşvikiye Mosque on 26 April 2004, at the time when he could not see his latest movie released.