"Despite the various rumors and speculation surrounding this role, there has only ever been one Bilbo Baggins for us," director Peter Jackson said in a press release.

Martin Freeman will play the role of Bilbo Baggins in the upcoming two-part screen adaptation of J.R.R. Tolkein’s The Hobbit, according to casting information released Friday.

The Pan's Labyrinth director says he already has a good idea of who he wants to play Bilbo Baggins, although McAvoy insists that he has not spoken to anyone about the part.