Finally, the first trailer for The Hobbit: An Unexpected Journey has been released. Peter Jackson returns to direct the adventure of young Bilbo Baggins (Martin Freeman) who sets out on an adventure with a company of dwarves. This trailer really is like a warm embrace from an old friend. While most trailers this far out from release show very little in the way of footage, Jackson shows off a great deal. Freeman looks excellent as Bilbo, the dwarves are fantastic (they sing!), and the tag brought a big smile to my face. While a year is a very long time to wait, this snippet is a swell look into the wonder to come.

Hit the jump to check out the trailer. The film also stars Cate Blanchett, Hugo Weaving, Elijah Wood, Orlando Bloom, Andy Serkis, Luke Evans, Benedict Cumberbatch, Evangeline Lilly, and Stephen Fry. The Hobbit: An Unexpected Journey will be released on December 14, 2012.

Click over to Apple to watch in HD.

Here’s the official synopsis for The Hobbit: