The stage has a large main platform in the center. Three platforms float about midway across the main platform, with the middle to the right of the top and bottom ones. The bottom platform is just high enough for Captain Falcon's up smash to be able to hit opponents standing on it. The platforms can allow combos such as the Stairway to Heaven to be performed for longer, and situational vertical KOs can also occur on the top platform, KOing at unusually low percentages. Characters such as Mario can also make use of the platforms to land vertical finishers, such as an up smash in Mario's case. Connected to the left of the main platform is a slightly lower, slanted platform. To the right of the main platform is a lower, connected platform with a dark green gazebo-like structure in the middle of it. Characters may stand on top of it, but may not jump through it. See below for more information.
In competitive play, Fox generally dominates on this stage due to its large size and high amount of space allowing him to use his blaster to projectile camp much easier than on Dream Land. Link is also much more effective on this stage for a similar reason. Both are also less vulnerable to gimps and offstage combos on this stage, particularly Link, who relies on his projectiles to space against opponents and avoid being hit offstage.
The area to the right of the main platform is commonly referred to as the "Rapetent" by the Smash 64 community, and also known as the "Combo Tent" or simply "tent" to a lesser extent. Players refer to it as this because characters can use aerials and throws to knock opponents off walls and into combos or KO moves. This was made famous by Isai's "Greenhouse" combo (performed using Pikachu), which involves using multiple up tilts, a back throw against the left wall, back aerial against the structure, up smash on the main platform (where the opponent will get knocked after being hit by the back aerial), and then a Thunderspike. Forward and back throws can be used to chaingrab the opponents against the walls to rack up more damage, and the up tilts may also be skipped if the opponent is already in the right position for a grab. Many other characters can perform their own variations of this combo. For example, Fox can use his back throw against the left wall to combo into a down aerial, which can subsequently lead into a regrab to continue the chain. He can also use the same throw to combo into an up aerial, which is a KO setup, especially against floaty characters.
Another advanced tent combo performed with Fox is the "shine pillar up smash" combo, popularized by Zenyore. It involves launching the opponent to the top of the structure with an up tilt, jumping up to the top of the structure, cancelling aerial momentum with a shine, then immediately using an up smash to KO the opponent while they are still in hitstun.
The only terrain effect are the four tornadoes, commonly called "nados" or the "nado" in the Smash 64 community, which spawn randomly over the stage. They tend to last around 10-20 seconds, and move randomly in a direction, although they may suddenly speed up and home in on a character. If caught, a character is held for about 2 seconds before being dealt 14% and thrown upward, KOing between 65% and 130% depending on weight of character and location of the tornado. The tornado's knockback is similar to a throw in which it cannot be SDI'd. It is possible to attack someone while they are in a tornado as well, and it's possible to hit the opponent with an aerial when they are released, including a meteor smash to knock opponents back into a tornado to rack up more damage. Tornados, due to their large vertical knockback, can also be used by Pikachu players to set up Thunderspikes if the opponent is caught in one. If a tornado speeds up and/or catches a character, it tends to spend less time on stage. The image to the side show the locations of the four tornados/nados spawns.
As a small easter egg, Death Mountain can be seen in the background.
 In competitive play
According to the American ruleset, Hyrule Castle is considered to be one of the three neutral stages, along with Dream Land and Congo Jungle. It is the most neutral stage in the Peruvian ruleset, though it is banned in the Japanese ruleset. Additionally, it is considered the most neutral stage in doubles, due to the larger size being preferred over Dream Land. The reasons for it being banned it the Japanese ruleset are its large size, favouring characters who can camp easily (particularly projectile campers), as well as the tornadoes disrupting gameplay.
The stage doesn't benefit characters who mostly use 0-death combos and edgeguarding to garner KOs, such as Captain Falcon, who has more trouble combo'ing the opponent into an offstage position due to the larger size, as well as him having more trouble approaching due to lacking a projectile. As explained above, Fox and Link benefit massively from this stage due to its large size allowing easy projectile camping and giving the opponent a harder time to start combos.
Ever since The Legend of Zelda: A Link to the Past there has been a Hyrule Castle where Princess Zelda and other members of the royal family live. The Hyrule Castle seen in this stage is based around Ocarina of Time. This stage is an accurate rendition of the castle seen in Ocarina of Time except there are no platforms that go up the middle tower and the spear on the right has been turned into a gazebo-like structure.
In The Legend of Zelda a recorder can be played to summon a tornado that warps the player to a certain dungeon depending on the direction the person is facing. This is the only Zelda game before Ocarina of Time to feature a tornado. In this stage there is a tornado that throws players upward. The tornado itself could be a reference to The Legend of Zelda, but what the tornado does has no relation to it. Death Mountain, a volcano in Ocarina of Time, can be seen in the background.
The music for this stage is a remixed version of The Legend of Zelda's overworld.
 Description from the Instruction Booklet
A tornado spins about the stage, wreaking havoc on all that cross its path.