Today, Zelda Dungeon informed us that there is a Legend of Zelda anime in the works. Reportedly, it will be based off the manga adaptation of A Link to the Past, and Vic Mignogna and Todd Haberkorn are listed as two of the voice actors. Though it's not necessarily my favorite entry in the series, A Link to the Past is a great adventure game and the manga adaptation was a very fun read. It will be interesting to see how this all pans out - how much Link will talk throughout the anime, how involved the character of Ghanti will be, and how many episodes the series will last.
If I had to take a guess, I would assume it would be an OVA, along the lines of six to ten episodes. That way they have plenty of time to cover everything in the manga version, while amping up the boss fights and dungeon exploration scenes. With any luck, this may open the door to other Zelda games/manga getting their own anime adaptations. I'm sure an anime version of Ocarina of Time would draw in tons of fans, while Wind Waker and Skyward Sword's stories and artistic directions would make for exciting viewing experiences. And if this goes exceedingly well, perhaps Nintendo would consider anime adaptations of some of their other franchises. I absolutely loved the short Metroid Prime comic series that was tied to the first Prime game, and I think that could make a great anime series too.