The (sort of) Official Legend of Zelda Timeline - This 8-Bit Life
So it looks like there may yet be some debate about this but according to translations from the recently (Japan only) released “Hyrule Historia” book, this should be the official timeline of the Zelda series. I find it interesting that in this timeline in order for the first 2 games in the series to have happened Link would have had to be defeated in OoT. I actually kind of like the way this timeline is structured, even if it does suppose that an important story from my childhood was just and alternate tangent in time.
Here’s the ‘Official” timeline for your perusal thanks to GlitterBerri.com. Click the image to embiggen!