There's 'The Sea Hawk' by Rafael Sabatini. It's set in the age of the buccaneers and has a lot of action and adventure on the high seas. In addition, 'Midshipman Easy' by Captain Frederick Marryat is a fun read, full of humor and interesting naval situations. 'The Pirate' by Sir Walter Scott also falls into this category, with its exploration of pirate life and the naval world that tries to combat them.
One great historic naval fiction novel is 'Master and Commander' by Patrick O'Brian. It vividly depicts the life and adventures of a naval captain during the Napoleonic Wars. Another is 'Hornblower' series by C.S. Forester. The stories follow Horatio Hornblower's rise through the ranks in the Royal Navy. Also, 'The Cruel Sea' by Nicholas Monsarrat is excellent, showing the harshness of naval life during World War II.