They say Martin Freeman will play hero Bilbo Baggins and Richard Armitage will portray Thorin Oakenshield, the leader of the Company of Dwarves.
ackson said in a statement Thursday that Freeman is "exactly like Bilbo and I feel incredibly proud to be able to announce that he is our Hobbit." He called Armitage "one of the most exciting and dynamic actors working on screen today."
Other actors joining the ensemble cast are Aidan Turner, Graham McTavish, John Callen, Stephen Hunter, Mark Hadlow and Peter Hambleton.
"The Hobbit," based on the J.R.R. Tolkien novel, began production in New Zealand earlier this month. The films are set for release in December of 2012 and December of 2013.