I am using Ocarina of Time and Majora's Mask pictures because I think they are the best drawings they did.
Link

A.K.A The Hero of Time, The Hero of
Seasons, The Hero of ages, etc. etc. Link is the hero of everything.
Traveling from land to land he is constantly fighting evil a saving or
protecting Princess Zelda. Although adult Link is thought of as the
original Link, young Link is the true one. Link appeared appeared in
his first quest 'The Legend of Zelda' in 1987 on the NES. Still going
strong and loved by all gamers. It must be noted that the only two Zelda games that the same Link appears in is Ocarina of Time and Majora's Mask. All the other Links seem to be random. XD
Zelda


Always needs saving. You name the Zelda game she is in, and she will be kidnapped in it. She is still one of the most important charaters in the game. She is usually the one who contacts Link and tells him a great evil is coming. Although the game is named after her, Zelda does not appear in all the Zelda games. Legend of Zelda DX and Legend of Zelda Majora's mask are two. Although she is the least played character, she is one of the most powerful. Zelda is also the seventh sage in Legend of Zelda Ocarina of Time.
Ganon/Ganondorf


The lovely looking man above is Ganondorf. The picture to the right is sexy other form Ganon. This resilient foe seems bent on obtaining the triforce, kidnapping Zelda and killing our favorite hero Link. Ganondorfs background story tends to vary between the games, but it is argued that, due to his annoying habit of staying alive, he is immortal and can only be killed or sealed in the sacred realm or twilight world by the master sword and/or the Sages. Probaly one of the most bad-ass villains out there in my opinion.
Epona
Although Epona has only recently been
introduced in to the Zelda series, she is already showing up in many of
the games. (She will play a large part in Twilight Princess. Apparently
you will be able to name her what ever you want.) Epona first entered
in the Ocarina of Time. Link had to rescue the poor animal from Ingo
after Lon Lon Ranch had been taken over. The faithful stallion will
always come to Link's aid when the Ocarina is played.
The Kokiri

The Kokiri are children that never grow up. There main appearence was in Ocarina of Time and again in Wind Waker but they had evolved into what seemed like little flying trees. They are very peaceful but are not very good at defending themselve. That is why they have their guardian, The Great Deku Tree. They say that if a Kokiri leaves the confines of the forest, they would die. Link left and didnt die.
The Great Deku Tree

The Great Deku Tree is the guardian of villages, forests, lands and loads of other places. He is also, like zelda, the main informer of Link. He is very old and wise in many things but in most of the games, he is cursed. With out The Great Deku Tree, Link would hardly on any adventures. In the Wind Waker, The Great Deku Tree is the sprout that grew in Kokiri forest in the Ocarina of Time after the previous Deku Tree died.
The Zora's

The Zora's are a cross between a human and a fish. They are very elegant at swimming and usually stay in the water than go on land. They are gentle and very sensitive to climate change so if there is a sudden change in weather conditions, they will be affected dramaticly. Link saves a Zora's spirit in Majora's Mask and is soon able to transform into one.
The Goron's


The Goron's are a very proud race and can take offence easily and quickly. their main supply of food is rocks but they are very sensitive on what kind of rocks they eat. Apparently some rocks are better than others. In Majora's mask, Link puts to rest a dead Goron's spirit and gets the mask which is able to make him transform into one.