Full sets:

Name Base Effect Set Bonus
Ancient +1 Guardian Resist per piece Ancient Proficiency: attack boost with Ancient / Guardian weapons
Armor of the Wild xxx Master Sword Beam Up: boosts the damage of the Sword Beam
Armor of the Sky / Twilight / Time / Hero / Wind (amiibo) xxx Master Sword Beam Up: the same as for “Armor of the Wild”. All 5 sets have the same Bonus and no base effect
Barbarian +1 Attack Up per piece Charge Atk. Stamina Up: less stamina cost for charged attacks. No additional damage boost
Climbing +1 Climb Speed Up per piece Climbing Jump Stamina Up: less stamina cost for jumping while climbing
Dark Link xxx Night Speed Up: Makes you move faster at night. Hidden Effect: NPCs will be afraid of you, but this doesn’t affect gameplay. NOT an effect: Despite Kilton hinting that this set will “make you into a monster”, it doesn’t provide a disguise effect
Desert Voe +1 Heat Res per piece Shock Damage Resist: Basically Lv.2 Shock Res, strong enough to reduce (but not prevent) damage from electro attacks. You still drop your equipment
Fierce Deity (amiibo) +1 Attack Up per piece Charge Atk. Stamina Up: less stamina cost for charged attacks. Same as Barbarian Set
Flamebreaker +1 Flame Res per piece Fireproof: immunity to regular fire, like fire Chuchus or fire “barriers” in shrines. Doesn’t work for lava.
Gerudo Vai xxx Heat-Resistant: only one level, and it only works if you wear all pieces together. (It’s “Lv.1 Heat Res” disguised as a set bonus) “Hidden Effect”: Grants access to Gerudo Town.
Hylian xxx xxx
Old Shirt & Well-Worn Trousers xxx xxx
Phantom Ganon (DLC, Not to be confused with the Phantom Armor) +1 Stealth per piece Disguise: Stal enemies will be docile unless you attack first. Bone Atk. Up: +80% damage for weapons with “bone” parts (like the Radiant Set) Hidden Effect: NPCs will be afraid of you, but this doesn’t affect gameplay
Phantom (DLC, Not to be confused with the Phantom GANON Armor) +1 Attack Up per piece xxx
Radiant xxx Disguise: Stal enemies will be docile unless you attack first. Bone Atk. Up: +80% damage for weapons with “bone” parts (Stal-bones, Dragonbone Moblin Club, etc.)
Royal Guard (DLC) xxx Charge Atk. Stamina Up: less stamina cost for charged attacks. Hidden Effect 1: Climbing Jump Stamina Up: less stamina cost for jumping while climbing. Hidden Effect 2: Swim Dash Stamina Up: less stamina cost for swim dashing. (it basically works like all “stamina reduction” sets combined)
Rubber +1 Shock Res per piece. Each level reduces damage from shock-type attacks and at Lv.3 you’re immune to electricity, except for actual lightning Unshockable: NOW you’re immune to lightning bolts from thunderstorms - it would have been better if they’d called it “Lightning Proof”, as this is the only effect of the set bonus. (Identical to Thunder Helm)
Salvager (“Free Promo DLC”) +1 Swim Speed per piece Swim Dash Stamina Up: less stamina cost for swim dashing. Same as the Zora Set, minus the “extra effects” like spin attack
Sheikah +1 Stealth per piece Night Speed Up: Makes you move faster at night.
Snowquill +1 Cold Res per piece Unfreezable: immunity to frost attacks, like exploding Ice Chuchus. You can even climb Frost Taluses safely. Doesn’t work for freezing water.
Soldier xxx xxx
Tingle (DLC) xxx Night Speed Up: Makes you move faster at night. Hidden Effect: NPCs will be afraid of you, but it doesn’t affect gameplay
Zora Each piece offers +1 Swim Speed Up / Zora Helmet gives you a swim spin attack / Zora Chestpiece makes you swim up waterfalls / Zora Greaves are needed to complete the set but don’t have a secondary effect Swim Dash Stamina Up: less stamina cost for swim dashing

Single Armor Pieces:

Name Base Effect Bonus
Champion’s Tunic Allows you to see enemy HP numbers xxx
Divine Beast Helmets (amiibo) Medoh: +1 Cold Res / Ruta: +1 Swim Speed / Rudania: +1 Flame Res / Naboris: +1 Shock Res Each Helmet activates the “Ancient Proficiency” set bonus when worn with the body & trousers of the Ancient Set. Each Helmet will also make you see the enemy HP numbers and offer +1 Guardian Resist despite the buff not being displayed
Island Lobster Shirt (DLC) +1 Heat Res Hidden Effect: If you use a Korok Leaf on a raft, you will gain top speed earlier than normal. It doesn’t increase the actual max speed
Korok Mask (DLC) Reacts to not yet solved Korok Puzzles xxx
Nintendo Switch Shirt (DLC) xxx xxx
Monster Masks They will make the respective enemy type (including Stals) docile unless you attack first. The Lynel Mask only works temporarily either way. The masks will also make Link imitate the enemy in question (grunting, huffing, bent-over stance etc.)
Majora’s Mask (DLC) It works like all of Kilton’s Monster Masks combined… … except for that Link will not behave differently.
Midna’s Helmet (DLC) +1 Guardian Resist Hidden Effect: +20% Attack with Guardian / Ancient Weapons.
Ravio’s Hood (DLC) Increases your sideways(!) climbing speed Master Sword Beam Up: It makes sense if you know who Ravio is
Sand Boots +1 Movement Speed on sand It does NOT keep you cool or activate the Set Bonus of the Desert Voe Armor or Gerudo Vai set. Can be worn inside Gerudo Town.
Snow Boots +1 Movement Speed on snow It does NOT keep you warm or activate the Set Bonus of the Snowquill Armor. Can be worn inside Gerudo Town.
Sheik’s Mask (amiibo) +1 Stealth Does NOT activate the Set Bonus of the Sheikah Set
Thunder Helm Complete immunity to electricity, including lightning bolts - it basically works like the twice upgraded Rubber Set Can be worn inside Gerudo Town. The citizens might react to the helmet (“is that the Thunder Helm?!..so jealous!”)
Warm Doublet +1 Cold Res xxx
Zant’s Helmet (DLC) Unfreezable: immunity to freezing attacks It does NOT keep you warm. You won’t take damage from icy attacks, but you will take damage from the environment.

Jewelry:

Name Base Effect Bonus
Amber Earrings xxx No boost.
Diamond Circlet +1 Guardian Resist Hidden Effect: +20% Attack with Guardian / Ancient Weapons. Does NOT activate the set bonus for the Ancient Set.
Opal Earrings +1 Swim Speed No boost. Does NOT activate the set bonus for Zora set or give you a spin attack
Ruby Circlet +1 Cold Res Hidden Effect: +20% Attack with Guardian / Ancient Weapons. Does NOT activate the set bonus for the Snowquill Set.
Sapphire Circlet +1 Heat Res Hidden Effect: +20% Attack with Guardian / Ancient Weapons. Does NOT activate the set bonus for the Desert Voe / Vai Set.
Topaz Earrings +1 Shock Res Hidden Effect: +20% Attack with Guardian / Ancient Weapons. Does NOT activate the set bonus for the Rubber Set.

Additional info:

Not all armor set bonuses require you to upgrade your armor to lv. 2 first. The Dark Link outfit, all of the DLC armor pieces and Gerudo Vai clothes for example can’t be upgraded, but their effects activate as soon as you wear the full set.

Base effects like Heat Res, Stealth etc. are “mix and match”: Wearing 1 piece of Cold Res armor and eating a Lv.1 Cold Res meal will grant you 2 levels of Cold Res total. Equipping flame-type and frost-type melee weapons act as one level of Cold Res and Heat Res respectively. Carrying a lit torch or burning weapon also acts similar to Lv.1 Cold Res.

You can not exceed the limit of an effect. Attack Up caps at Lv.3 so wearing the full Barbarian set and eating a triple attack meal won’t give you Lv.6 attack up: you will still only have Lv.3 despite the buff being displayed. The same goes for all “speed up” bonuses, so “Night/Swim/Climb Speed up” + Lv3 Speed Up from food won’t make you faster.

How do you know the “level cap” of an effect? Open the armor menu: directly below the icon of an effect is a gauge with little blue bars. If 2 lines/bars fit into the gauge, the armor effect caps at lv.2 and if 3 lines/bars fit in there, the effect will cap at lv.3. (example)

Different effects stack in some cases: you can combine Ancient Proficiency or Bone Attack Up with a regular Attack Up meal / elixir and gain an extra boost, as the game treats those as separate effects.

Set Bonuses are NOT the same as, nor “caused by” the Base Effects. Lv.2 Cold Res from food or armor will not automatically make you immune to frost attacks - you specifically need the twice upgraded Snowquill Armor or Zant’s Helmet for the “unfreezable” effect. Likewise, Zant’s Helmet makes you “unfreezable” but does NOT actually keep you warm, as it lacks “cold res” base effect.


Sources:

If you have any questions, additions, corrections etc. then feel free to comment ;)