On an episode of The Colbert Report last year, the presenter revealed that he owns "Aragorn's sword Anduril, Flame of the West, forged from the shards of Narsil" and explained the US debt crisis using Lord of the Rings action figures.
Colbert has also claimed to have visited the New Zealand set of The Hobbit and hinted that he may make a cameo in the series of films, an assertion Jackson has refused to deny.
"I read that, too - it was very, very interesting," said Jackson in an interview with Entertainment Weekly. "It's yet to be confirmed or denied."
"I have never met a bigger Tolkien geek in my life," Jackson continued, recalling the moment he met Colbert.
"Philippa Boyens is our resident Tolkien expert, and when Stephen came down to visit the set, we put him head to head with Philippa on a Tolkien quiz - and Stephen triumphed.
"I have to say, his encyclopedic knowledge of Tolkien is spectacular, and points to a deprived childhood in some respects."
The first film in the Hobbit trilogy, The Hobbit: An Unexpected Journey, opens in cinemas on December 14.
Watch a trailer for the film below: