Gandalf is the only central character from Lord of the Rings who also plays a pivotal role in The Hobbit, so he was actually the only character that I thought would be a requirement to return for the prequel. And as of right now Sir Ian McKellen isn’t signed for the role.
Or is he?
Sir Ian McKellen’s official website (McKellen.com) made an update to its ’2010′s Film’ section. While we don’t have an official press release yet, the update to his website seems to imply he is coming back as Gandalf for ‘The Hobbit’ films:
THE HOBBIT’s, two films, start shooting in New Zealand in February 2011. Filming will take over a year. Casting in Los Angeles, New York City and London has started. The script too proceeds. The first draft is crammed with old and new friends, again on a quest in Middle Earth.
Seems McKellen himself thinks he is in the movie, and while there is no official confirmation on this, it looks like Ian McKellen will be in The Hobbit.
This is good news indeed.