When news broke that Stephen Colbert was writing a new Lord of the Rings movie, fans immediately began speculating about a potential return of the original hobbits. Now, Elijah Wood has offered a cautious update on whether he'll reprise his iconic role as Frodo Baggins.

Speaking to The Direct while promoting his latest project Among Us, Wood made it clear that any involvement in Colbert's Shadows of the Past remains far from official. “We’re not there yet,” Wood said, explaining that the project hasn't reached the stage where casting is locked in or even where he has a script to consider.

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The film, penned by Colbert and his son, aims to adapt six chapters from The Fellowship of the Ring that were omitted from Peter Jackson's original trilogy. These chapters detail the hobbits' meandering journey from the Shire to Bree, which Wood acknowledged would have “killed momentum” in the original film but now offers rich storytelling potential.

Wood didn't rule out returning, though. In fact, he sounded genuinely excited by the prospect. “I think the idea of telling the story of what happens in those six chapters is really exciting, and I think really exciting for fans,” he said. “It certainly includes all those characters. So, a script has to be written, we have to go through a process and read it, and it has to get a green light and all those things, but certainly in theory, yeah. And I’m beyond thrilled that it’s Stephen and his son doing it. It’s in the best Tolkien scholarly hands.”

The big catch is that Shadows of the Past is not yet greenlit, meaning there is no confirmed cast, production timeline, or release date. Peter Jackson and Fran Walsh are reportedly attached as producers, but the project still has several major hurdles to clear before fans can start imagining Frodo heading back through the Barrow-downs.

Wood is, however, set to return for The Hunt for Gollum, the Andy Serkis-helmed movie in which he will also star, with Jamie Dornan and Anya Taylor-Joy among the new names joining Middle-earth. For now, fans will have to wait and see whether Colbert's passion project gets the green light—and whether Frodo will once again step into the spotlight.

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