The Legend of Zelda: Oracle of Ages is one of two The Legend of Zelda titles released for the Game Boy Color, the other being Oracle of Seasons, both representing the seventh and eighth main installments of the series. Released near the end of the system's lifespan, Oracle of Ages and its counterpart were said to "send the Game Boy Color out with a bang." In anticipation of the upcoming release of the Game Boy Color's successor, the Game Boy Advance, the games exhibited special features (such as the Advance Shop) when played on the new handheld system.

After completing one of the two games, they can be linked to form a single, linear plot (as opposed to two parallel ones) with an alternate ending. Game-linking also unlocks extra content, such as new items. The game is named after its central character, Nayru, Oracle of Ages, and the element that is manipulated by Link in the game—the Ages.

It was released for the Nintendo 3DS Virtual Console in Japan on February 27, 2013, in North America, Europe and Australia on May 30, 2013, and in South Korea on April 20, 2016.