The Legend of Zelda has one of the most interesting and confusing timelines in the history of gaming. When Breath of the Wild released, one thing was apparent: the game took place after all previous entries. But, the question of which exact timeline it was placed in lingered. Game director Hidemaro Fujibayashi told Famitsu (translated by Siliconera) back in August,"That’s… up to the player’s imagination, isn’t it?" This line of thinking has not changed. Zelda series producer Eiji Aonuma revealed in the recent book, The Legend of Zelda: Breath of the Wild - Creating a Champion (information transcribed by Nintendo Insider) that Nintendo will not officially place the game within a specific timeline.
Eiji Aonuma: "We realised that people were enjoying imagining the story that emerged from the fragmental imagery we were providing. If we defined a restricted timeline, then there would be a definitive story, and it would eliminate the room for imagination, which wouldn’t be as fun."
There have been books such as the Hyrule Historia and the recently released Legend of Zelda Encyclopedia. These texts detail the history of the games prior to Breath of the Wild. However, it seems like Aonuma is set on making sure Breath of the Wild is never clarified into one timeline. This could be a disappointment to those who like having an official, canon timeline. But, at the same time, it doesn't take away from the grand experience Breath of the Wild delivers.
Even though Breath of the Wild is not officially clarified within the branching timelines, it's rare that the previous games directly acknowledge one another. It is however easy to piece together certain games to a coherent timeline without the help of guides. Skyward Sword serves as the franchise's prequel, while Wind Waker happens a long while after Ocarina of Time. Breath of the Wild clearly takes place in the future, and that is really all one needs to know to enjoy the game. Nintendo has very rarely put the timeline at the forefront when making these games, instead focusing on telling contained storylines with grand gameplay.
Breath of the Wild is seen by many to be a beautiful game, winning multiple game of the year awards. Its emphasis on subtle storytelling with a grand open world Hyrule made for a memorable experience. Though Nintendo has supported the game via DLC, it's likely The Champions' Ballad was the final add-on content. Nintendo is possibly working on the next 3D Zelda game, and there is a lot of work to do to follow up on Breath of the Wild's success, if that is what the company is working on. Time will tell when the next Zelda title is announced, and if that game will be placed canonically within a timeline.