Martin Freeman is Bilbo Baggins in 'The Hobbit'

It's late in the day, but this is definitely the biggest news piece of today: the casting announcement for "The Hobbit." And yes, Martin Freeman ("The Hitchhiker's Guide to the Galaxy") will play Bilbo Baggins.

Also starring in "The Hobbit" are Richard Armitage (he will play Thorin Oakenshield), Rob Kazinsky, Aidan Turner, Graham McTavish, John Callen, Stephen Hunter, Mark Hadlow and Peter Hambleton.

"Despite the various rumours and speculation surrounding this role, there has only ever been one Bilbo Baggins for us," Peter Jackson said in a press release sent out by New Line Cinema earlier this evening.

"There are a few times in your career when you come across an actor who you know was born to play a role, but that was the case as soon as I met Martin," Jackson said. So there, that's it then.

Freeman's credits include "Love Actually," "Shaun of the Dead," "Hot Fuzz" and the original "The Office."