diff -u b/core/includes/common.inc b/core/includes/common.inc
--- b/core/includes/common.inc
+++ b/core/includes/common.inc
@@ -2273,7 +2273,7 @@
  */
 function l($text, $path, array $options = array()) {
   // Build a variables array to keep the structure of the alter consistent with
-  // template_preprocess_link().
+  // theme_link().
   $variables = array(
     'text' => $text,
     'path' => $path,
diff -u b/core/includes/theme.inc b/core/includes/theme.inc
--- b/core/includes/theme.inc
+++ b/core/includes/theme.inc
@@ -1681,18 +1681,14 @@
 }
 
 /**
- * Prepares variables for link templates.
+ * Returns HTML for a link.
  *
- * Default template: link.html.twig.
+ * This is a wrapper around l() to allow for more advanced themeing and use of
+ * array(#theme => 'link') style render arrays.
  *
- * All Drupal code that outputs a link should call the l() function. That
- * function performs some initial preprocessing, and then, if necessary, calls
- * theme('link') for rendering the anchor tag.
- *
- * To optimize performance for sites that don't need custom theming of links,
- * the l() function includes an inline copy of this function, and uses that
- * copy if none of the enabled modules or the active theme implement any
- * preprocess or process functions or override this theme implementation.
+ * Where performance is more important than theme flexibility, always call l()
+ * directly. There is a measurable performance impact when using theme('link')
+ * style implementations on link-heavy sites.
  *
  * @param $variables
  *   An associative array containing the keys 'text', 'path', and 'options'.
@@ -1700,39 +1696,8 @@
  *
  * @see l()
  */
-function template_preprocess_link(&$variables) {
-  // Merge in defaults.
-  $variables['options'] += array(
-    'attributes' => array(),
-    'query' => array(),
-    'html' => FALSE,
-  );
-
-  // Add 'active' class if appropriate.
-  if ($variables['url_is_active'] = url_is_active($variables['path'], $variables['options'])) {
-    $variables['options']['attributes']['class'][] = 'active';
-  }
-
-  // Remove all HTML and PHP tags from a tooltip, calling expensive strip_tags()
-  // only when a quick strpos() gives suspicion tags are present.
-  if (isset($variables['options']['attributes']['title']) && strpos($variables['options']['attributes']['title'], '<') !== FALSE) {
-    $variables['options']['attributes']['title'] = strip_tags($variables['options']['attributes']['title']);
-  }
-
-  // Allow other modules to modify the structure of the link.
-  drupal_container()->get('module_handler')->alter('link', $variables);
-
-  // Move attributes out of options.  url() doesn't need them and they make more
-  // sense as top level variables in templates.
-  $variables['attributes'] = new Attribute($variables['options']['attributes']);
-  unset($variables['options']['attributes']);
-
-  // The result of url() is a plain-text URL. Because we are using it here
-  // in an HTML argument context, we need to encode it properly.
-  $variables['url'] = check_plain(url($variables['path'], $variables['options']));
-
-  // Sanitize the link text if necessary.
-  $variables['text'] = ($variables['options']['html']) ? $variables['text'] : check_plain($variables['text']);
+function theme_link(&$variables) {
+  return l($variables['text'], $variables['path'], $variables['options']);
 }
 
 /**
@@ -3185,7 +3150,6 @@
     ),
     'link' => array(
       'variables' => array('text' => NULL, 'path' => NULL, 'options' => array()),
-      'template' => 'link',
     ),
     'links' => array(
       'variables' => array('links' => array(), 'attributes' => array('class' => array('links')), 'heading' => array()),
reverted:
--- b/core/modules/system/templates/link.html.twig
+++ /dev/null
@@ -1,15 +0,0 @@
-{#
-/**
- * Returns HTML for a link tag.
- *
- * Available variables
- * - text: The content to display within the <a> element.
- * - url: The sanitized url for this link.
- * - url_is_active: TRUE if the url for this link leads to the current page.
- * - attributes: (optional) HTML attributes to apply to the <a> element.
- *
- * @see template_preprocess_link()
- * @ingroup themeable
- */
-#}
-<a href="{{ url }}" class="{{ attributes.class }}" {{ attributes }}>{{ text }}</a>