Zelda series producer Eiji Aonuma has responded to the question of a re-release of Majora's Mask along similar lines of Ocarina's recent 3D remake, stating it "wouldn't be an impossibility".
Speaking to Game Informer (with the interview picked up by Zelda Informer, and reported by multiple outlets), Aonuma hinted that it would be fan feedback that would help decide a re-release after being asked outright if a Majora's Mask remake was on the cards.
"It's been 13 years since Ocarina of Time was originally released, and one of the big things that we made this remake possible was that there was an outpour of emotions from people who said they would like to see this game done. We said we could do it in 3D, so we did," he said.
"I think certainly if there was a similar output of emotion and clamor from fans for a remake of Majora's Mask, it wouldn't be an utter impossibility."