Elijah Wood may return for Hobbit movie

Not all of the characters from Peter Jackson’s original “Lords of the Rings” trilogy feature in “The Hobbit,” but with a second, transitional film that takes place in the years between the two novels, there’s a big chance we will indeed see the return of Frodo and friends.
“Hobbit” director Guillermo Del Toro said he would love to bring back Elijah Wood, Sean Astin and so on, for that second film, to reprise their roles from the original trio of films.
“I want to be very clear about this. I am not going to recast any actor that is willing and able to work with us,” Del Toro told MTV News. “It would be my hope to bring back the same actors to play the parts. The casting on the trilogy was perfect.”
The first film, “The Hobbit” won’t feature many of the characters that we saw in “Lord of the Rings” because it’s set some fifty years before the events of that series. The main star of it will likely be Ian Holm, reprising his role as Bilbo. Or will he?
‘’[Holm] certainly is the paragon we aspire to. He will be involved in some manner, I'm sure. But at his age ... it's too early to tell”, Del Toro tells MTV. “We are just in the early stages. It's too early to make commitments of that sort. We prefer to let the screenplay and the way the character comes to life guide us in the casting. I have many people in mind. Anything [else] I say will be used against me in a court of law’’.