Well I think that while most of the Zelda games to me seem to have their Link's story conclude. The end of Majora Mask left Link to continue is journey, which to me it felt as though the Hero of Time's story had one last adventure to tell. I know its unlikely but it would be cool to see where he travels next ending with him becoming an adult and back in Hyrule. Which would eventually lead into the future that is Twilight Princess.
All this. Untrue. It has no evidence.
The Hero of Time is not TP Link's father.
The Hero of Time is also not the Hero's Shade.
And Malon is definitely not TP Link's Mom
OoT and TP are hundreds of years apart, being the father of TP Link is impossible.