Link, from Legend of Zelda: Ocarina of Time . He holds the Triforce piece of Courage. The other pieces are Wisdom (held by Princess Zelda) and Power (held by Ganondorf, King of Evil). Oh, and the little ball of light next to him is Navi, his faerie companion and helper. Unfortunitely, I couldn't fit Epona (Link's horse) into the pic.
Pencil sketch. Felt-tipped pen inking. Photoshop coloring.