A "third?" There's only been one. And, no, I don't think it's necessary for one hero to be the same as a previous one.
Well Majora's Mask is the second story of the Hero of Time, which is the same Link.
The OP meant that he wants another game featuring the Hero of Time as a playable character. We've had two so far; Ocarina of Time and Majora's Mask. :xd:Yeah, but that's not a second Hero of Time.