After the incredible success of The Lord of the Rings, it could be argued that a film adaptation of The Hobbit was inevitable. Well, Tolkien fans can rejoice that The Hobbit Movie, directed by Guillermo del Toro with Peter Jackson also taking part in the project, is due for release in 2011. Furthermore, a sequel is expected to arrive in the following year (2012).
Information on both films is vague at this moment in time, but be sure to check back often for the latest news and rumours on the project.