Peter Jackson, who will be settling for producing credits on the upcoming two “Hobbit” movies (after his Herculean-like work writing and directing the “Lord of the Rings” trilogy, can you blame the guy?), and Guillermo Del Toro, who will be directing said movies, have apparently been on a long, nearly year-long, search for writers to adapt the expansive Tolkien book to the big screen. As luck would have it, they happen to know two pretty popular, and good, writers — some guys name Del Toro and Jackson. Yup, after much searching, the duo have decided that no one else is better suited to take on the hobbits than, well, them. Hey, I could have told them that.

The happy news sure to delight Tolkien fans everywhere via Yahoo!:

Del Toro (”Hellboy,” “Pan’s Labyrinth”), who is directing the movies, will team with the “Lord of the Rings” filmmaker and “Hobbit” executive producer Jackson to adapt the J.R.R. Tolkien book and write its follow-up. Also joining them in the writers’ room are Frank Walsh and Philippa Boyens, both of whom collaborated with Jackson on the “Rings” trilogy.

“Hobbit,” written by Tolkien for his children years before the “Rings” trilogy, follows a young Bilbo Baggins, who finds his comfortable life turned upside down when the wizard Gandalf takes him on a journey for a hoard of treasure that involves trolls, humans, Gollum and his ring of invisibility and a dragon named Smaug.

Del Toro will direct both movie back-to-back in New Zealand, where word is he’s already bought a ranch and livestock. Maybe not so much on the livestock, but probably on the ranch part. Anyways, rumor has it that a lot of familiar faces from “The Lord of the Rings” trilogy, which technically chronicles events that takes place AFTER the events in “The Hobbit”, may make appearances in the two new movies.

With Gandalf clearly being an integral part of the story, Ian McKellen would seem like a sure bet. Everyone else? Your guess is as good as mine.