Speaking with a Portuguese games site last year, The Legend of Zelda series producer, Eiji Aonuma, shared that, while Nintendo were considering a Nintendo 3DS remake of The Legend of Zelda: Majora’s Mask, it wouldn’t feel right to release another Zelda remake right after Ocarina of Time 3D.
Instead, it would likely be a new title, and it wouldn’t be connected to the Zelda games on the Nintendo DS. Prior to that, he also hinted that having 3D in the game would “mean something”.
Speaking with IGN more recently at E3, Nintendo’s Shigeru Miyamoto confirmed that a Majora’s Mask remake is still under consideration, but that something involving A Link to the Past—which he had expressed interest in on a previous occasion—was also a possibility.
"We haven’t quite decided yet, whether we’re going to do A Link to the Past, because there’s also the possibility of doing a remake of Majora’s Mask," Miyamoto shared with IGN. "This is something we’ve certainly been talking about and doing a little bit of experimenting with, to figure out which way we’re going to go."
"We have so many goals right now," Miyamoto said. "We’re always looking at expanding our audience and giving people the opportunity to get their hands on 3DS and see what kind of fun gaming experiences they can have. And now, we’re also tasked with pushing the Wii U. So we have lots of good opportunities in terms of thinking about which Zelda game is going to be best for which purpose."