Not sure if this has been mentioned already, but in Hyrule Historia there's this little nugget in the margin of the timeline for LoZ:
LINK:
A young traveler. He encounters Impa while visiting Hyrule. It is thought that he may be the descendant of the Link who defeated Ganon and departed on a journey to continue his training during the Era of Light and Dark.
So, according to that, LoZ Link is likely to be a direct descendant of the Link from ALttP, Oracles, and LA. The last time we saw THAT Link was when he was clinging to a bit of wood in the middle of the ocean at the end of Link's Awakening. Perhaps his descendant is returning to his dad's/grandad's/great grandad's/etc. homeland of Hyrule after a long time?
Of course, this is all just speculation.