After plenty of speculation, Sir Ian McKellen has finally confirmed he will return in the role of Gandalf in Guillermo del Toro’s upcoming “The Hobbit.”

According to Empire Online, McKellen is pretty excited about traveling back to Middle Earth. At a recent screening of “The Dark Knight,” the “X-Men” actor said he will be a part of “The Hobbit” although he hasn’t signed a contract yet.

McKellen also said he’s looking forward to working with del Toro and Andy Serkis, who is also returning in the role of Gollum. Peter Jackson is producing.

“The Hobbit” is based on a book by J.R.R. Tolkien and serves as a prelude to “The Lord of the Rings” trilogy.

McKellen most recently starred in “X-Men: The Last Stand.” His acting credits also include “The Da Vinci Code,” “The Lord of the Rings” films and “X2.”

McKellen returning as Gandalf? That’s great news. What do you think?