Peter Jackson's The Hobbit: An Unexpected Journey isn't hitting theaters for another year, but fans can start getting excited with the release of the movie's epic trailer.

The two-and-a-half minute clip features Ian McKellen who will be starring alongside Cate Blanchett, Elijah Wood and Orlando Bloom.

The Hobbit: An Unexpected Journey hits theaters on December 14, 2012 and the second part, The Hobbit: There and Back Again, will hit theaters in December 2013.

So much to look forward to!