uses activex,comobj,shlobj;

function ResolveLink(const ALinkfile: String): String;
var
  link: IShellLink;
  storage: IPersistFile;
  filedata: TWin32FindData;
  buf: Array[0..MAX_PATH] of Char;
  widepath: WideString;
begin
  OleCheck(CoCreateInstance(CLSID_ShellLink, nil, CLSCTX_INPROC_SERVER, IShellLink, link));
  OleCheck(link.QueryInterface(IPersistFile, storage));
  widepath := ALinkFile;
  Result := 'unable to resolve link';
  If Succeeded(storage.Load(@widepath[1], STGM_READ)) Then
    If Succeeded(link.Resolve(GetActiveWindow, SLR_NOUPDATE)) Then
      If Succeeded(link.GetPath(buf, sizeof(buf), filedata, SLGP_UNCPRIORITY)) Then
        Result := buf;
  storage := nil;
  link:= nil;
end;

// 用法:
procedure TForm1.Button1Click(Sender: TObject);
begin
  ShowMessage(ResolveLink('C:\delphi 7.lnk'));
end;