The timeline of it's not a Final Fantasy situation, where every game has its own Hyrule.
The idea of there being multiple Legend of Zelda timelines was a fan theory for the longest time. It wasn't until the release of a book called Hyrule Historia that a timeline for the series was laid out. Since then, the Zelda timeline has been amended several times, as new entries of the series have been released. There are also some games whose placement has changed, with Link's Awakening initially happening after the Oracle games. This was later changed to Link's Awakening happening before the Oracle games, suggesting they are its sequels, and that Link survived his uncertain fate after being shipwrecked.
There are some entries in The Legend of Zelda series that take place before the timeline split. As of the time of writing, Breath of the Wild takes place at the end of the timeline, but no one is sure which one, or if it's somehow all of them, and all roads lead to Breath of the Wild.
Zelda Timeline Split: The Hero Dies & Ganon Is Victorious
The first timeline is created from an event where Ganon slays Link at the end of Ocarina of Time, leading to the realm of Hyrule being vulnerable to conquest. Ganon is able to take over the land, facing little opposition until a new version of Link arrives and is able to draw the Master Sword. This timeline contains the original Legend of Zelda game, the Oracle games, A Link to the Past, A Link Between Worlds, Tri Force Heroes, Link's Awakening, and Zelda 2: The Adventure of Link.
The devastated version of Hyrule is used as an excuse for how empty the land is in early games, which was due to the limitations of the hardware of the time. In the end, a new version of Link appeared, defeated Ganon, and saved Princess Zelda.
Zelda Timeline Split: The Hero Is Gone & Ganon Returns
The next two Legend of Zelda timelines are the result of Princess Zelda's actions at the end of Ocarina of Time. Once Link defeats Ganon, Princess Zelda uses the Ocarina of Time to send him back in time, so that he can live out the childhood that he missed the first time around. The only problem is that Ganon eventually returned and there was no hero to stop him, as Link had been sent back in time. The goddesses of Hyrule flooded the realm, leading to the events of Wind Waker, Phantom Hourglass, and Spirit Tracks.
This version of Hyrule was flooded, but the water eventually dissipated, allowing for the creation of steam engines. Spirit Tracks technically has multiple endings, as Link decides his future career based on how he answers a question from Princess Zelda. Spirit Tracks is currently the last game in its own timeline, so it's unclear if this decision has any ramifications.
The Child Survives & The Strange Era In Zelda's Timeline
The version of Link that was sent back in time by Zelda at the end of Ocarina of Time went on to have his own adventures. This timeline consists of Majora's Mask, Twilight Princess, and the Four Swords Adventures games. Ganon is defeated at the beginning of this timeline, but Link's troubles aren't over yet, as he now has to stop the moon from crashing into the land of Termina. Link has some of his most peculiar and darkest adventures in this timeline, with Majora's Mask being seen as one of the strangest video games of all time, while the Twilight Realm from Twilight Princess is one of the most surreal and unsettling locations in the series.
Princess Zelda Victorious - BOTW & Age of Calamity Timelines
The Age of Calamity timeline split is the most questionable in of its canonical status, as it happened in a spin-off game. In Age of Calamity, a Guardian named Terrako from the Breath of the Wild era goes back in time to warn Link and Princess Zelda about the impending arrival of Calamity Ganon. This gives Link, Zelda, and the Champions the time they need to assemble their forces and prepare for the war ahead. They are later ed by other heroes from the future, and together, they manage to defeat Calamity Ganon.
This has created a new timeline, where the events of Breath of the Wild never happened. It's possible the events of Age of Calamity are never mentioned again, and that the story is just a nice bit of fan service. Then again, there's still almost nothing known (including its real title) about the story of Breath of the Wild's sequel, and it's possible it takes place in a new Legend of Zelda timeline.
