Nintendo wins. Realistic Zelda + NDS is better then you ever imagined

[OB1]

According to Miyamoto Link is 16 in both OoT and the new Zelda. Here's a quote from the E3 roundtable:

But since then, we've been left with a very big question: and that was, what are we going to do when we decide to make Link a teenager again -- a 16-year-old Link. So after Wind Waker we tried several different models and made varied versions of them. Ultimately we decided that in showing a teenage Link really the best style of expressing him would be something that's closer to our graphical style in Ocarina of Time.

He's 16 in the new Zelda, and he said again referring to OoT. So "adult" Link is just a teenager.