Ian MacKellen was asked on his website about returning has Gandalf in THE HOBBIT. Here is what he said: “Yes I will, if Peter Jackson and I have anything to do with it, he being the producer and me being, on the whole, a very lucky actor.” MacKellen also mentions GDT as he goes on to say, “Encouragingly, Peter and Fran Walsh have told me they couldn’t imagine THE HOBBIT without their original Gandalf. Their confidence hasn’t yet been confirmed by the director Guillermo del Toro but I am keeping my diary free for 2009!”
In a previous report at DelToroFilms, GDT expressed his interest in keeping the original cast intact. So if THE HOBBIT happens for Guillermo, count on seeing MacKellen back and casting spells.