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Hobbit fans rejoice! The first teaser trailer for Peter Jackson's The Hobbit: An Unexpected Journey has been released.

OK! NEWS: THE HOBBIT BEGINS FILMING IN NEW ZEALAND; PETER JACKSON REVEALS FIRST PHOTOS!

The Hobbit focuses on Bilbo Baggins (Martin Freeman) and his journey to reclaim the lost Dwarf Kingdom of Erebor, Coming Soon reports.

Unfortunately, fans have to wait an entire YEAR for this film to hit theaters.

The Hobbit: An Unexpected Journey will be showing in 3D, 2D and IMAX 3D theaters on Dec. 14, 2012.

Do you think this film will be worth the long wait?

OK! NEWS: PETER JACKSON REVEALS FIRST PRODUCTION VIDEO FROM SET OF THE HOBBIT

Watch the trailer below and sounds off in the comments!

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