Game Ending:

This part is every word spoken by every character that speaks at the end of the game.

G = Ganondorf
GN = Ganon
M = Midna
Z = Zelda
GZ = Ganondorf in the form of Zelda

Link and Minda enter Ganondorf's Castle to face him off. Ganondorf is sitting in his throne at the far side of the room. Zelda is being held captive (and is most likely unconscious) in a Triforce cell above Ganondorf's throne.

G = Welcome to my castle.
M = So you're...Ganondorf.
M = I've been dying to meet you.
G = Your people have long amused me, Midna. To defy the gods with such petty magic, only to be cast aside... How very pathetic.
G = Pathetic as they were, though, they served me well. Their anguish was my nourishment.
G = Their hatred bled across the void and awakened me. I drew deep of it and grew strong again.
G = Your people had some skill, to be sure...but they lacked true power.
G = (looking at Zelda) The kind of absolute power that those chosen by the gods wield.
G = (turning back to Link and Midna) He who wields such power would make a suitable king for this world, don't you think?

Ganondorf raises his hand, and the Triforce symbol glows brightly in the back of his hand; signifying that he currently posses all three pieces of the Triforce.

M = Ha! Such conceit!
M = But if you are one of the chosen wielders of powers, as you claim...
M = I will risk everything to deny you!
G = Shadow has been moved by light, it seems.
...How amusing.
G = Very well... Deny me, then!
G = Yes, try to deny me... You and your little friend...

Ganondorf uses his acquired powers to take over Zelda, and seeing this Midna tries to stop him, but he passes right through her, knocking her unconscious. Ganondorf (he is now in Zelda body) seals off the exit to fight Link.

GZ = Both of you, faithless fools who would dare to take up arms against the king of light and shadow...
GZ = So you choose. And so you shall feel my wrath!

Link and Zelda (Ganondorf) battle it out, but Link emerges victorious. Midna then forces Ganondorf out of Zelda. Ganondorf reforms into a giant beast, similar to King Dodongo of Ocarina of Time (the boss of the Young Link Fire Temple, Dodongo's Cavern). Link also defeats this giant beast, and it appears as if Link has defeated Ganondorf for good. Princess Zelda is awakened with the help of Midna.

M = Pr-Princess... I... I...
Z = Say nothing, Midna...
Z = Your heart and mine were as one, however briefly...
Z = Such suffering you have endured.

As Zelda approaches Link, the body of Ganon's beast begins to stir. The spirit of Ganon arises in a ball of flame from the body. Midna warps Link and the princess back to Hyrule field to save them, and she transforms to take on Ganon herself.

Link and Zelda find themselves in Hyrule Field. They turn to Ganondorf's Castle in time to see it explode, and see Ganondorf riding toward them, Midna's helmet in his hands. Link goes to face Ganondorf, but Zelda holds him back, to call upon the gods to aid him.

Z = Spirits of the light! Wielders of the great power that shines far and wide upon the lands of our world...
Z = In my hour of need, grant me the light to banish evil!

As Zelda finishes, Ganondorf is suddenly right next to them, and is about to swing his sword, but the gods transport Zelda and Link away. In the cut scene, four of the gods combine their powers and give Zelda Light Arrows.

Z = Link...
Z = Chosen hero!
Z = Lend us the last of your power!*

Link extends his hand and agrees, then they are transported back to Hyrule Field. The battle begins between.

Z = I'll try to slow Ganondorf with my light arrows.
Z = You target him and keep him within range of my arrows!

The horseback battle begins between Link and Ganondorf. Link rides to get close to him, and then Zelda shoots him with a Light Arrow to slow him down, then Link slashes at him with his sword. When Link hits him three times, Ganondorf and his horse fall to the ground. But Ganondorf arises out of the dust.

G = An impressive-looking blade...
But nothing more.
(Ganondorf draws his blade.)
G = Would you hear my desire?
G = To take this foul blade...and use it to blot out the light forever!

Ganondorf uses his power to create a barrier between himself and Link, and Zelda. Link prepares for the final battle as the boss label DARK LORD: GANONDORF flashes across the screen.

Ganondorf cries out in agony as Link stabs the Blade of Evil's Bane through his chest. Zelda stands watching outside of the barrier. The battle is finally over, and Hyrule is free from darkness yet again.

G = Do not think this ends here...
G = The history of light and shadow will be written in blood!

The Triforce on Ganondorf's hand fades as he breathes his last. The same four gods that granted Zelda the Light Arrows appear in the air above a shadowy figure on the horizon. The shadowy figure is Midna, but she is not in her imp form, she stands tall in her Twili form.

M = What? Say something!
M = Am I so beautiful that you've no words left?

The screen fades out as the credits roll across the screen. But Midna has a few words to say before she goes back to the Twilight Realm. Link, Midna, and Princess Zelda stand at the Twilight Portal.

M = Well...I guess this is farewell, huh?
M = Light and shadow can't mix, as we all know.
M = But...
M = Never forget that there's another world bound to this one.
Z = Shadow and light are two sides of the same coin...
Z = One cannot exist without the other.
Z = I know now the reason the goddesses left the Mirror of Twilight in this world...
Z = They left it because it was their design that we should meet.
M = Yes... That is what I believe.
M = Zelda... Your words are kind and your heart is true.
M = If all in Hyrule are like you...
M = Then maybe you'll do all right.

Midna turns to leave, but turns back to Link.

M = Thank you...
M = Well, the princess spoke truly: as long as that mirror's around we could meet again...
M = Link...
(A golden tear falls from Midna's eye.)
M = I...
M = See you later...

Midna pushes the golden tear to the Mirror of Twilight, and it cracks. Link lunges at her, but Midna runs up the stairs to the portal. The Mirror of Twilight glows and transports her back to the Twilight Realm, then shatters.

The credits roll and the camera shows Hyrule, peaceful as it should be. It shows the Master Sword, back in it's pedestal. Link is riding home to Ordon Village, where his friends await him. The final screen is Hyrule Castle, light as it should be. The words "The End" flash across the screen, and the screen fades to black.

* With these words, Zelda is just asking Link to continue to help the people of Hyrule by fighting Ganondorf this one last time.