Bilbo Baggins of 'The Hobbit' Has Reportedly Been Cast

"The Hobbit" has reportedly found the actor to play its titular role. Upon receiving an e-mail from Ringer spy Olli, The One Ring reported that actor Ian McKellen was the one who broke the news while making an appearance at a special marathon screening for the extended editions of all three "Lord of the Rings" films at London's BFI IMAX cinema on Saturday, August 22.

According to Olli, the actor who plays wise wizard Gandalf in the "Lord of the Rings" trilogy revealed that he knows who will take on the starring role. However, he was keeping tight lips on whether or not "Atonement" actor James McAvoy is the one who will carry out the Bilbo Baggins character.

During his introduction for the screening, the 70-year-old McKellen also confirmed that he will be coming back as Gandalf in director Guillermo del Toro's adaptation of J.R.R. Tolkien's novel. The SAG Awards-winner also revealed, as reported by Olli, "he is currently re-Reading the hobbit and is expecting to be back in NZ in March" and "he should be seeing the script within the next week".

Los Angeles Times' Hero Complex has reported that "Harry Potter" star Daniel Radcliffe, "Doctor Who" lead actor David Tennant and James McAvoy were all rumored to be the potential candidates for Bilbo Baggins. However, both Radcliffe and Tennant have slammed the speculation. Radcliffe stated that he has no interest in the project, while Tennant claimed it to be plain Internet rumor.

"The Hobbit" is taken from J.R.R. Tolkien's novel of the same title and is planned to be made into two-part movies. The movies will re-create the scenes of the novel, with additional events that make an impact to "The Lords of the Rings", such as the expulsion of Sauron from Mirkwood by The White Council.

Shooting is expected to start in March 2010 and go on for about 370 days. Hugo Weaving and Andy Serkis are said to reprise their "The Lord of the Rings" roles as Lord Elrond and Gollum respectively. The first of the adventure fantasy movie is scheduled for December 2011 U.S. release, while the second one is expected to hit theaters across the U.S. a year later.