Many fans and moviegoers have been waiting for a reliable source to reveal details about which LOTR characters will be returning for The Hobbit: Part 1.  Peter Jackson finally went on record with MTV (Collider noticed and told us) and gave us what we wanted.

The Academy-Award winning director, who’s executive producing and co-writing the coming Hobbit flick, is very busy these days with producer-related responsibilities for The Adventures of Tintin: The Secret of the Unicorn and The Lovely Bones (which he also directed).  For those of you who’ve been in serious hiding, The Hobbit: Part 1 is to be directed by Guillermo Del Toro, who’s probably best known for his direction on the Hellboy movies along with Pan’s Labyrinth.

Check out who Jackson says could return from the Lord of the Rings trilogy below.

“Gandalf, being a 2,000-year-old wizard, is still around and plays a major role in The Hobbit, and we’re having Ian McKellen reprise… There’s a couple of other characters: Elrond, who was played by Hugo Weaving [in the original films], and there’s a possibility of Galadriel, who was played by Cate Blanchett.”

“They are elves, so once again, in the realm of Middle-earth, they’re immortal, they don’t age… We have a process that would start with showing them the script. We’re not [beginning] any official process until we have the ‘official’ script that they can read.”

We already know that the script for The Hobbit: Part 1 has been completed and submitted and the second is on track to be finished at the end of this month or beginning of the new year. We also know, despite some rumors, that the first of the duology is still scheduled to open in theaters at the end of 2011.

I’m curious to see if the new Hobbit flicks are so packed with story, character development, etc. that two films are warranted, or if this trick will end up smelling like someone said, “Hey!  Why make only one movie out of a beloved story that will gross $800MM worldwide when we can make two?”  I guess my final position on that will be in hands of Mr. Del Toro and Mr. Jackson.

Other than the logically appropriate immortals (or whatever Gandalf is) showing up, which character(s) from LOTR would you like to see in The Hobbit: Part 1?

The Hobbit: Part 1 is scheduled for a December, 2011 release.

Sources: Collider, MTV