Here are two powerful and free WordPress plugins that lets you create theme option, meta boxes in both free and premium WordPress themes. These plugins get easily integrated in almost all WordPress themes and provides you easy admin interface for building theme options.
A free WordPress plugin for building theme options from admin area interface. You can easily create Theme Options and Meta Boxes for both free or premium WordPress themes. It can add many custom option in any WordPress theme you are using. It has been created to fill the gab between developers and users, this way you can easily customize you WordPress theme option without any coding. Visit here and learn more about the features and philosophy of this free WordPress plugin.
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A powerful WordPress plugin for including more more options panel in both free and premium WordPress themes. It was built so developers can concentrate on making the actual theme rather than spending time creating an options panel from scratch. You can freely use it in both commercial and personal projects, just like WordPress itself. It includes options for text input, textarea, checkbox, select, radio button, upload (image uploader), images (use images instead of radio buttons), background (a set of options to define a background), multicheck, color (a jquery color picker), typography (a set of options to define typography), editor etc.