Most people think he is an elf, Tingle seems to think he is a fairy, and Ocarina of Time and Majora's Mask makes mention that he is human. But if he is human, what's up with his ears?:hmm:
Hylian is the name of his race,but he's still human.
Example Asians are the name of a race of people,but they are still called humans.
Asians isn't a race, it's a nationality. Trying to separate human beings into different "races" was just the thing Hitler did, my friend. The Human, Homo sapiens, is a race. And Link would be a Hylian, not a human.