I will represent my side of the arguement here for link since few people in this thread are doing this other than saying Kratos would lose because he isn't as smart as link, or link plays with fairies kratos would chop his head off.
The Goddesses created hyrule, Din(goddess of power) created the earth, Farore(Goddess of Courage created life, and Nayru(Goddess of Wisdom) created the physical laws. Then they departed into the heavens, and left behind them the Triforce. There is the Triforce of Power, Courage, and Wisdom. Ganon weilds the Triforce of Power, Zelda weilds that of Wisdom, and Courage belongs do Link. The Triforce of Power basically makes the holder have infinite power, and you could compare it to that of a god. The Triforce of Courage doesn't have a known specific ability, but does give the essence Farore( Goddess) to the user. So Link defeats a god like being(Ganon), with the power of a Goddess(Farore). That means saying Kratos is a god so link can't kill him is a moot point. Especially when Link kills many things that seem to be equivalent to that of dumb downed Gods in God of War such as Majora, Ganon, The Great Giants, etc. Then we have the Master Sword which was made to defeat evil, things that are Evil cannot touch or weild the sword, which means its very effective against Kratos who most would see as evil. As for Defense link has the Triforce, Magic Armor(Invisibility relative to the amount of rupees you have), Staff of Byrna(Invinsablity relative to how much MP he has). He also has Magic Cape which grants him invisibilty, and the Ocarina of Time which could do many things such as go back in time, change day to night(vice versa), Etc. He could heal with fairies, spells,etc. He also has many spells he could use such as the Sheild Spell(Cuts damage in half),Din's Fire(Casts Fire), Life Spell(Heals link), Nayru's Love( Protects link from damage), Reflect Spell( Reflects Magic), etc. Not to mention countless other items that may or may not be effective against Kratos. So downplaying lengths effectivness by saying "He chases fairiez" isn't enough.
Edit: I forgot to mention Masks too.
