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According to Lord Of The Rings website The One Ring, Wood could potentially be seen reading from the fictional Red Book Of Westmarch to introduce viewers to the world of The Hobbit.
The report added that Frodo will likely appear in the opening sequence of The Hobbit and could open the door for Sean Astin's Samwise Gamgee and hobbits Merry (Dominic Monaghan) and Pippin (Billy Boyd) to return.
Orlando Bloom was recently rumoured to be reprising his role as Legolas from the original Rings trilogy, while Cate Blanchett has been confirmed to return as Galadriel.
Part one of The Hobbit, starring Martin Freeman as Bilbo Baggins, will open in cinemas in December 2012. The sequel is expected to follow in 2013.
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