'The Hobbit' wraps filming, due in theaters in December

J.R.R. Tolkein fans are one step closer to the next chapter -- at least on film -- in the "Lord of the Rings" saga. Director Peter Jackson has announced that he is finished principal photography on "The Hobbit" and ready to hit the editing bays.

The first of two films, "The Hobbit: An Unexpected Journey" will hit theaters on Dec. 14.

"We made it! Shoot day 266 and the end of principal photography on The Hobbit," writes Jackson on his Facebook page.

"Thanks to our fantastic cast and crew for getting us this far, and to all of you for your support! Next stop, the cutting room. Oh, and Comic Con! Cheers, Peter J."

The movie, which stars "Sherlock's" Martin Freeman as a young Bilbo Baggins reunites "Rings" co-stars Ian McKellan, Elijah Wood, Orlando Bloom and Cate Blanchett.