After two hard years of work, the Zelda Reverse Engineering Team has finished one of their biggest projects: recreating The Legend of Zelda: Ocarina of Time's source code, from scratch. We've seen similar successful attempts in the past, such as when Super Mario 64 was also decompiled, which spawned further fan projects that saw the game ported to the Nintendo Switch before Nintendo could, and with widescreen and 60fps support, to boot.
This is a WIP decompilation of The Legend of Zelda: Ocarina of Time. The purpose of the project is to recreate a source code base for the game from scratch, using information found inside the game along with static and/or dynamic analysis. It is not producing a PC port.
Currently, the official website for the decompilation shows the project at 98% completion, as the last finishing touches are done, but are yet to be submitted as a pull request on the project's GitHub. Once it's completed and publically available, it's likely we'll see PC ports and mods being made--not from the ZRET team themselves though, as they want to focus purely on documenting their work and trying to reverse engineer different versions of Ocarina of Time and other Zelda games. For now, the decompilation applies to the Master Quest release of Ocarina of Time on the GameCube.
We thought for a time that we may never be able to match every function completely, so this is an incredibly exciting accomplishment. Dozens of people helped work on this project, and together we were able to achieve something amazing.
If you're looking for other Zelda fan projects to tide you over until the decompilation is released, then you might want to check out the Spaceworld '97 Experience romhack, which came out last week.