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Here it is: the new Hobbit trailer!

The new full length trailer for Peter Jackson's The Hobbit: An Unexpected Journey, the beginning of Bilbo's three-part adventure into Middle Earth, has just been released.

J.R.R. Tolkien's classic novel The Hobbit is being directed as three separate movies and is set in Middle-Earth 60 years before Tolkien's Lord of the Rings. Martin Freeman plays the lead role as Bilbo Baggins, but An Unexpected Journey features many familiar faces from the LOTR trilogy, including Sir Ian McKellan as Gandalf, Cate Blanchett as the mythical and fascinating Elf queen Galadriel and Andy Serkis returns as the despicable creature Gollum.

Special effects

The special effects are being taken care of by visual effects powerhouse Weta Digital, which also handled the majority of effects for Jackson's Lord of the Rings trilogy.

The Hobbit: An Unexpected Journey is due for release on 14 December 2012. For more information on the film, visit The Hobbit website.

What did you think of the trailer? Are you as excited as we are? Let us know in the comments box below!