Peter Jackson's latest trilogy continues as the new 'The Hobbit 2' trailer debuted online, featuring Martin Freeman's Bilbo and his band of dwarves still journeying to reclaim the lost Dwarf Kingdom of Erebor from the dragon Smaug.

Sir Ian McKellen (Gandalf the Grey) and his buddy from the 'Lord of the Rings' trilogy, Orlando Bloom (Legolas), introduced the latest 'Hobbit 2' trailer Tuesday morning on the 'Today' show before the footage premiered online.

After facing the first part of their 'Unexpected Journey,' which included run-ins with trolls and the famous Gollum, Bilbo, Gandalf the Grey and the company of 13 dwarves, led by Thorin Oakenshield (Richard Armitage), face new terrors. Showing up for the first time in the 'Hobbit' trilogy are Lee Pace as the Elvenking, Thranduil; Luke Evans as Bard the Bowman; Evangeline Lilly as Tauriel, the elf character created especially for the film; and Legolas himself. Not to mention 'Star Trek Into Darkness' baddie Benedict Cumberbatch voicing the villainous dragon Smaug.

'The Hobbit 2,' titled 'The Desolation of Smaug,' hits theaters December 13.

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