The Hobbit 3 [UPDATE]: The official trailer has finally been revealed! Watch it here!

The Battle of the Five Armies will be hitting theaters this December and the official synopsis for the film has finally been revealed! According to TheOneRing.net, the movie plot is as follows:

"The Hobbit: The Battle of the Five Armies" brings to an epic conclusion the adventures of Bilbo Baggins, Thorin Oakenshield and the Company of Dwarves. Having reclaimed their homeland from the Dragon Smaug, the Company has unwittingly unleashed a deadly force into the world. Enraged, Smaug rains his fiery wrath down upon the defenseless men, women and children of Lake-town."

"Obsessed above all else with his reclaimed treasure, Thorin sacrifices friendship and honor to hoard it as Bilbo's frantic attempts to make him see reason drive the Hobbit towards a desperate and dangerous choice. But there are even greater dangers ahead. Unseen by any but the Wizard Gandalf, the great enemy Sauron has sent forth legions of Orcs in a stealth attack upon the Lonely Mountain."

"As darkness converges on their escalating conflict, the races of Dwarves, Elves and Men must decide - unite or be destroyed. Bilbo finds himself fighting for his life and the lives of his friends in the epic Battle of the Five Armies, as the future of Middle-earth hangs in the balance."

Director Peter Jackson also announced that he had just finished the cut for the film's first teaser trailer and that he had "handed it over to the studio." Expect the final Hobbit film's first footage at Comic-Con two weeks from now.

To know all the events that transpired and updates so far about the film, click here.

The film is set for release on December 17, 2014.