I have been going to Cardakli restaurant for years. It was previously called Cumbali but has now moved next door and is operating under a new name. It is located directly on the waterfront at the old harbour in Yalikavak - a beautiful place to sit and enjoy a meal. The owner Mehmed speaks good English, some of the waiters are quite proficient too.
It is a fish restaurant, but there are also meat dishes on the menu. Normally there is an excellent variety of meze - the grilled octopus leg is highly recommended, as are the prawns and calamari rings. One excellent dessert is the fig with cream - but do avoid the cappucino - it's made with powder. Turkish coffee is ok.
The wine list is fine, they also serve beer and raki.
In summer, the restaurant is generally very busy, so do not go without a reservation. Despite my reservation last time, the service was poor. The starters came quickly, but our main course never appeared and after waiting for one hour we cancelled it and left. The owner apologised profusely. That night they had a lot of Turkish guests - we felt they were given priority over foreigners and would encourage the owner to change this policy.