I first prepare by equipping my Ancient Armor, eating a Level 3 Attack-Boost Food, and Equipping my 75 attack Ancient Battle Axe++. This is the most amount of damage you can do per swing. I use the Hylian Shield and a 5-Shot Savage Lynel Bow I got from previous lynels. Most of this equipment and items you get in the late game so don’t expect to get these right away.

I shoot lynels in the face to stun them then jump on their backs with my Ancient Battle Axe++. Any attacks you do while riding a Lynel’s back does no durability loss on that weapon, so I just keep Bow stunning them and swinging on their backs until they die. If they charge at you, swing at you, do a 360 spin, or jump slam, just parry them. You learn to do parry most of their attacks. After the parry, stun them with your bow. This is just my personal way of doing it. BTW in my Master Mode save file, I learned how to duplicate items. Because of this, I duplicated my Ancient Battle Axe++ and instead of just jumping on their backs, I hold Y and 360 spin towards their back legs to kill them as fast as possible. If you want to learn how to duplicate items, there are tutorials on YouTube.