Yoav Talmi was born in Kibbutz Merhavia He studied composition and orchestral direction first in Israel, at the Rubin Academy of Music in Tel Aviv, and then in the United States, at the Juilliard School. In 1966, he was awarded the Koussevitzky Conducting Prize at the Tanglewood Music Center. In 1973, he won the Rupert Foundation Conducting Competition in London.

Yoav Talmi and his wife Er'ella have two children. In 2001, the Université Laval awarded him an honorary doctorate. In 2009, he was made an Officer of the National Order of Quebec.

Talmi was music director of the Arnhem Philharmonic from 1974 to 1980. From 1984 to 1988, he was music director of the Israel Chamber Orchestra (ICO) and the New Israeli Opera, and later held the title of principal guest conductor with the ICO. Talmi served as music director of the San Diego Symphony from 1987 to 1996, and made several recordings with them for the Naxos label. He was Artistic Director and Principal Conductor of l'Orchestre Symphonique de Québec (Québec Symphony Orchestra) from 1998 to 2011, and now has the title of conductor emeritus of the orchestra. He was Chief Conductor of the Hamburg Symphony Orchestra from 2000 to 2004. In February 2013, Talmi returned to the ICO as its music director.

Talmi's compositions include the official march of the Israeli Army, Tsahal Tso'ed, an Elegy for Strings, Timpani and Accordion ("Dachau Reflections"). His composition "De Profundis for Choir and Orchestra" premiered in Quebec City in May 2011.