Going by the reception of Nintendo's 3D update of The Legend of Zelda: Ocarina of Time, there is much love for the Nintendo 64 classic even today. So it's not surprising that a group of very dedicated and talented fans got together to recreate that world in Minecraft.
This project has been in development since May 2011 with the final release expected to feature "quests, classes, experience and leveling, and a fan-written storyline that continues the story after the events of OOT's child timeline". They also plan to add RPG and MMO elements to the game to complete with to-scale Hyrule world. If you're a fan of either Minecraft or The Legend of Zelda, you owe to yourself to check out this video.