Carlton M. Caves received a Bachelors in Physics from Rice University in 1972. He then received his PhD from Caltech in 1979.

After graduating, he became a Research Fellow at Caltech, until he became a Senior Research Fellow in Theoretical Physics in 1982. In 1987, he became an associate professor of electrical engineering at the University of Southern California. In 1992, he came to the University of New Mexico as a Professor of Physics and Astronomy. He is now Distinguished Professor of Physics and Astronomy at the University of New Mexico. He is also a Visiting Professor in the School of Mathematics and Physics at the University of Queensland.

Caves has received a number of awards for his work, including the Einstein Prize for Laser Science, the Excellence in Teaching Award from UNM, the Max Born Award, and the Lifetime Achievement Award from the New Mexico International Year of Light Celebration.