Variety and Stuff.co.nz are reporting that the Hobbit movies have a director, and fan-favorite director Guillermo del Toro will take on the two “Hobbit” films!

After delving into Hellboy and Pan's Labyrinth, Middle-earth shouldn't feel like that much of a descent for Guillermo del Toro. 

The Academy Award-nominated writer-director has just been signed to helm back-to-back epics adapted from J.R.R. Tolkien's The Hobbit, which, after various delays, are finally going forward with Peter Jackson set to produce and together with Fran Walsh to deliver the script.

Del Toro will imigrate to New Zealand for the next four years to work with Jackson and his Wingnut and WETA production teams. He’ll direct the two films back to back, with the sequel that will deal with the 60-year period between “The Hobbit” and “The Fellowship of the Ring,” the first of the “Lord of the Rings” trilogy.

New Line is overseeing development and will manage production. Both movies are being co-produced and co-financed by New Line Cinema and MGM, with Warner Bros. distributing domestically and MGM handling international.

Tolkien wrote The Hobbit for his children. It was first published in 1937 and has just celebrated its 70 years of publication.

The studios say filming will begin in 2009. The first film is expected to be releases in 2010 and the sequel in 2011.

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