The Beaver Race is located in the Waterfall Rapids in Zora Cape. Once there, Zora Link must talk to the Little Brother Beaver swimming around in the water. He then challenges Link to compete against him, which leads to the first of two Races.
The first Beaver Race against the Little Brother Beaver consists of swimming through 20 underwater rings in under two minutes. Upon succeeding, Link must then race against the Big Brother Beaver, but this time with 25 rings. Successfully completing both Races rewards Link with a Bottle. Racing again against the Beavers during the same three-day-cycle yields a Piece of Heart from them. The rules for the first Race are the same, except the time limit is shortened to one minute and 50 seconds. Once Link wins against the Little Brother Beaver, he will have to race against the Big Brother Beaver with the same time limit, but with 25 rings instead. The Piece of Heart is rewarded upon the completion of both Races.
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- In an early version of the game, Link needed to collect sticks to help the Beavers construct their dam.
- "You won the Beaver Race! This was added to your notebook!" — N/A (Majora's Mask 3D)
- "At Spaceworld '99, the Zora power was demonstrated during an interesting race of sorts where Link tries to keep up with two beavers and help them gather drift wood for their dam." — Prototype Screenshots 2, X-CulT.