My favorite race would be either Hylians or Gorons. Hylians are just so cool, even if they seem normal. And the Gorons' belief that nice, helpful people are their brothers, that is a quality I wish would find it's way within all of the races of Zelda.
My favorite would have to be the Hylians. Seriously. Why? Link is a Hylian and i've adapted to Hylians since they are one of the five most needed races. The others being the Zoras, Gorons, Kokiri, and Gerudo.
Deku. The Deku are pretty interesting, and I think they should be developed more in a future Zelda title. Since Majora's Mask, it's been all Gorons and Zoras. The Deku exist too!