For weeks we have been being teased with the potential release of The Legend of Zelda Twilight Princess HD, during today's Direct Nintendo opened the presentation up by making the official reveal of The Legend of Zelda Twilight Princess HD. In a trailer shown it is clear visual improvements have been made, and Nintendo has promised to extend upon the original game in some form.
As part of the reveal Nintendo also revealed a new Amiibo which will tie in with the game, this new Amiibo is Wolf Link though Nintendo has not announced what exactly it will do in the game. They have teased however that Wolf Link's Amiibo will have some kind of connection to Zelda U. The Amiibo will be released separately or in a special edition bundle which will provide the game, the Amiibo and the soundtrack.
The Legend of Zelda Twilight Princess HD will arrive in March of next year, you can see the reveal trailer below: