Rauru

Rauru is an ancient Hylian and the Sage of Light in Ocarina of Time. He is one of the ancient Sages, and possibly the only remaining one. He lived in the Temple of Light, which is located in the Sacred Realm, for many centuries, guarding the Triforce.

Link met Rauru after opening the Door of Time and drawing the Master Sword from the Pedestal of Time. Rauru recognized Link as the destined hero and kept him with him in the Sacred Realm for seven years, so that, in the safety of the Light Temple, he would become old enough to actually assume the role of hero. Rauru spoke with Link for the first time after those seven years, informing him of what had happened and what he was supposed to do as the hero. After instructing him to awaken the other Sages, Rauru gave him the Light Medallion.

Rauru did not contact Link until he had freed the other five Sages, but failed to protect the seventh Sage, Princess Zelda, from Ganondorf who kidnapped her. Rauru instructed Link to save Zelda and told him that he and the other Sages would aid him by providing entrance to Ganon's Castle. Finally, Rauru led the other Sages when they used their powers to seal away Ganondorf.

Unlike the other Sages, Rauru was not seen at the ending of Ocarina of Time, possibly indicating that he stayed in the Light Temple.

Kaepora Gaebora
It is believed by some that Kaepora Gaebora is the physical manifestation of Rauru outside of the Sacred Realm, which he uses to travel Hyrule. One argument for this theory is that a Gossip Stone refers to Kaepora Gaebora as "the reincarnation of an ancient Sage". Some also consider the quote of another Gossip Stone, that Kaepora Gaebora's "character is rather lighthearted", a reference to Rauru's position as the Sage of Light. However, Kaepora Gaebora himself has a quote that seems to contradict this theory. During the future part of Ocarina of Time, he can only be seen once, and at that time remarks that he "thought that the tales of a boy who could travel back and forth through time was merely a legend". If Kaepora Gaebora and Rauru really were one and the same, Kaepora Gaebora should know that Link can travel though time.

Trivia

 * Rauru, like several other characters from  Ocarina of Time was named after a town featured in The Adventure of Link.