The story of
The Hobbit centers on Bilbo Baggins. It is his thoughts and deeds that unify this novel of fantasy, travel,
and adventure. Bilbo, a well-to-do member of a species "created" by Tolkien, the hobbits, is recruited by thirteen
dwarves and the magician, Gandalf, to help them recover the dwarves’ treasure; they are especially interested in retrieving a great gem, the Arkenstone, which belongs to the chief dwarf, Thorin Oakenshield, son of the dead king of the dwarves. The dwarves, Gandalf, and Bilbo must travel to the Lonely Mountain for the treasure, which is guarded by the dragon Smaug. Adventures soon crowd in on the travelers. First they meet a pair of trolls who capture the dwarves and plan to eat them, but the trolls are turned to stone because of Gandalf’s trickery. After a stay at the home of Elrond, who is a great lord of the wood-elves, the travelers enter the mountains, where they are attacked by
goblins, go underground, and become separated. Bilbo escapes from the goblins and enters an underground cavern with a pool; there, picking up a ring from the ground, he meets a strange and murderous creature named Gollum. Because he loses a riddle game, Gollum must lead Bilbo out of the mountain, which he does— not, however, before he tries to betray Bilbo and get back the ring (which makes the wearer invisible). Bilbo escapes both Gollum and the goblins by wearing the ring of invisibility.
The dwarves, Gandalf, and Bilbo are reunited, attacked by wild wolves ("wargs"), saved by eagles, and taken by Gandalf to visit a bear-man, Beorn, for the night. The group enters Mirkwood, where Bilbo (Gandalf having left on an errand) saves the dwarves from giant spiders, manages to help the dwarves escape from the prison of the king of the wood-elves, and so herds the group finally to the human settlement, Lake-town, near the Lonely Mountain. They are given a cool welcome by the foolish and weak master of the town; nevertheless, they get enough aid to continue on to the mountain, where Bilbo finds the dragon, Smaug, and steals a cup from the treasure hoard. After a conversation with Bilbo and an attempt to kill the dwarves, Smaug, raging over the stolen cup, leaves to destroy Lake-town. A great battle ensues between the human beings and Smaug; it ends when the battle leader, Bard, kills the dragon by an arrow to its weak spot; Bard will later become master of Lake-town at the death of the weak and foolish one. The goblins, having followed the group, arrive with a great army and are met by a hastily assembled number of human beings, wood-elves, Beorn and his animal friends, the eagles, Gandalf, the dwarves, and Bilbo. Many are killed, including Thorin, but the goblins are defeated. Bilbo returns home to his old life, now changed to an imaginative writer of poetry and visitor of elves.