diff --git a/core/includes/common.inc b/core/includes/common.inc
index 88d6fd3df127d97b86405bf95b195d4d5171965c..5eac16e07f3e7287afdccd386dc05ef494c4c27c 100644
--- a/core/includes/common.inc
+++ b/core/includes/common.inc
@@ -2160,6 +2160,46 @@ function url_is_external($path) {
 }
 
 /**
+ * Returns TRUE if the given path is currently being viewed.
+ *
+ * @param string $path
+ *   An internal path or external url as could be used by url().
+ *
+ * @param array $options
+ *   An associative array of additional options. Defaults to an empty array. It
+ *   may contain the following elements.
+ *   - 'language': An optional language object. If the path being linked to is
+ *     internal to the site, $options['language'] is used to determine whether
+ *     the link is "active", or pointing to the current page (the language as
+ *     well as the path must match). This element is also used by url().
+ *   - 'query': An array of query key/value-pairs (without any URL-encoding) to
+ *     append to the URL.
+ *
+ * @return bool
+ *   Boolean where TRUE indicates an active path.
+ *
+ * @see url()
+ */
+function url_is_active($path, $options = array()) {
+  // Merge in defaults.
+  $options += array(
+    'query' => array(),
+    'language' => NULL,
+  );
+
+  // A path is only active if it corresponds to the current path, the
+  // language of the path is equal to the current language, and if the
+  // query parameters of the url equal those of the current request, since the
+  // same request with different query parameters may yield a different page
+  // (e.g., pagers).
+  $path_match = ($path == current_path() || ($path == '<front>' && drupal_is_front_page()));
+  $lang_match = (empty($options['language']) || $options['language']->langcode == language(LANGUAGE_TYPE_URL)->langcode);
+  $query_match = drupal_container()->get('request')->query->all() == $options['query'];
+
+  return $path_match && $lang_match && $query_match;
+}
+
+/**
  * Formats an attribute string for an HTTP header.
  *
  * @param $attributes
@@ -2228,68 +2268,50 @@ function drupal_http_header_attributes(array $attributes = array()) {
  *   An HTML string containing a link to the given path.
  *
  * @see url()
+ * @see theme_link()
  */
 function l($text, $path, array $options = array()) {
-  static $use_theme = NULL;
+  // Build a variables array to keep the structure of the alter consistent with
+  // template_preprocess_link().
+  $variables = array(
+    'text' => $text,
+    'path' => $path,
+    'options' => $options,
+  );
 
   // Merge in defaults.
-  $options += array(
+  $variables['options'] += array(
     'attributes' => array(),
     'query' => array(),
     'html' => FALSE,
   );
 
-  // Append active class.
-  // The link is only active, if its path corresponds to the current path, the
-  // language of the linked path is equal to the current language, and if the
-  // query parameters of the link equal those of the current request, since the
-  // same request with different query parameters may yield a different page
-  // (e.g., pagers).
-  $is_active = ($path == current_path() || ($path == '<front>' && drupal_is_front_page()));
-  $is_active = $is_active && (empty($options['language']) || $options['language']->langcode == language(LANGUAGE_TYPE_URL)->langcode);
-  $is_active = $is_active && (drupal_container()->get('request')->query->all() == $options['query']);
-  if ($is_active) {
-    $options['attributes']['class'][] = 'active';
-  }
-
-  // Remove all HTML and PHP tags from a tooltip. For best performance, we act only
-  // if a quick strpos() pre-check gave a suspicion (because strip_tags() is expensive).
-  if (isset($options['attributes']['title']) && strpos($options['attributes']['title'], '<') !== FALSE) {
-    $options['attributes']['title'] = strip_tags($options['attributes']['title']);
-  }
-
-  // Determine if rendering of the link is to be done with a theme function
-  // or the inline default. Inline is faster, but if the theme system has been
-  // loaded and a module or theme implements a preprocess or process function
-  // or overrides the theme_link() function, then invoke theme(). Preliminary
-  // benchmarks indicate that invoking theme() can slow down the l() function
-  // by 20% or more, and that some of the link-heavy Drupal pages spend more
-  // than 10% of the total page request time in the l() function.
-  if (!isset($use_theme) && function_exists('theme')) {
-    // Allow edge cases to prevent theme initialization and force inline link
-    // rendering.
-    if (config('system.performance')->get('theme_link')) {
-      drupal_theme_initialize();
-      $registry = theme_get_registry(FALSE);
-      // We don't want to duplicate functionality that's in theme(), so any
-      // hint of a module or theme doing anything at all special with the 'link'
-      // theme hook should simply result in theme() being called. This includes
-      // the overriding of theme_link() with an alternate function or template,
-      // the presence of preprocess or process functions, or the presence of
-      // include files.
-      $use_theme = !isset($registry['link']['function']) || ($registry['link']['function'] != 'theme_link');
-      $use_theme = $use_theme || !empty($registry['link']['preprocess functions']) || !empty($registry['link']['process functions']) || !empty($registry['link']['includes']);
-    }
-    else {
-      $use_theme = FALSE;
-    }
+  // Add 'active' class if appropriate.
+  if ($variables['url_is_active'] = url_is_active($variables['path'], $variables['options'])) {
+    $variables['options']['attributes']['class'][] = 'active';
   }
-  if ($use_theme) {
-    return theme('link', array('text' => $text, 'path' => $path, 'options' => $options));
+
+  // Remove all HTML and PHP tags from a tooltip, calling expensive strip_tags()
+  // only when a quick strpos() gives suspicion tags are present.
+  if (isset($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.
+  $attributes = new Attribute($variables['options']['attributes']);
+  unset($variables['options']['attributes']);
+
   // The result of url() is a plain-text URL. Because we are using it here
   // in an HTML argument context, we need to encode it properly.
-  return '<a href="' . check_plain(url($path, $options)) . '"' . new Attribute($options['attributes']) . '>' . ($options['html'] ? $text : check_plain($text)) . '</a>';
+  $url = check_plain(url($variables['path'], $variables['options']));
+
+  // Sanitize the link text if necessary.
+  $text = ($variables['options']['html']) ? $variables['text'] : check_plain($variables['text']);
+
+  return '<a href="' . $url . '"' . $attributes . '>' . $text . '</a>';
 }
 
 /**
diff --git a/core/includes/theme.inc b/core/includes/theme.inc
index 8d527df2aae1606a01b7db85685a511306f68712..fe61d18a9e85510f3f77147eecb7c195b2c80de0 100644
--- a/core/includes/theme.inc
+++ b/core/includes/theme.inc
@@ -1681,7 +1681,9 @@ function theme_status_messages($variables) {
 }
 
 /**
- * Returns HTML for a link.
+ * Prepares variables for link templates.
+ *
+ * Default template: link.html.twig.
  *
  * All Drupal code that outputs a link should call the l() function. That
  * function performs some initial preprocessing, and then, if necessary, calls
@@ -1698,8 +1700,39 @@ function theme_status_messages($variables) {
  *
  * @see l()
  */
-function theme_link($variables) {
-  return '<a href="' . check_plain(url($variables['path'], $variables['options'])) . '"' . new Attribute($variables['options']['attributes']) . '>' . ($variables['options']['html'] ? $variables['text'] : check_plain($variables['text'])) . '</a>';
+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']);
 }
 
 /**
@@ -3152,6 +3185,7 @@ function drupal_common_theme() {
     ),
     '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()),
diff --git a/core/modules/system/templates/link.html.twig b/core/modules/system/templates/link.html.twig
new file mode 100644
index 0000000000000000000000000000000000000000..fdc19e20f54afe96777dde41c22a85c56f56459f
--- /dev/null
+++ b/core/modules/system/templates/link.html.twig
@@ -0,0 +1,15 @@
+{#
+/**
+ * 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>