Guillermo Del Toro confirms to a BBC radio show this week that Hugo Weaving will return as Elrond in his new film The Hobbit, which will be split into two films for sake of length.

Regarding Weaving:

“Yes [and] Ian McKellen is back, [and] Hugo Weaving in the roles they originated in the trilogy.”

Listen to the whole interview here, and Del Toro also mentions of no plans on Hellboy 3 and casting for Frankenstein.