The latest clip sees Elijah Wood (Frodo Baggins) return to the shire 11 years after production began on Peter Jackson's The Lord Of The Rings trilogy.
In addition to Jackson and Wood, The Hobbit stars Andy Serkis (Gollum) and Martin Freeman (Bilbo Baggins) also feature.
Other scenes detail the logistical challenges of filming on location in New Zealand, while an epic river rafting set piece featuring several hobbits is also teased.
The first trailer for The Hobbit: An Unexpected Journey was unveiled earlier this week, along with new artwork depicting the beginning of Bilbo's adventure in Middle Earth.
Ian McKellen, Cate Blanchett, Orlando Bloom, Ian Holm, Christopher Lee and Hugo Weaving will reprise their roles from the Lord of the Rings trilogy in the two-part Hobbit adaptation.
Cast newcomers include Richard Armitage, Stephen Fry, Benedict Cumberbatch, Sylvester McCoy, Bret McKenzie, James Nesbitt, Lee Pace, Aidan Turner, Evangeline Lilly and Luke Evans.
The Hobbit: An Unexpected Journey is set for release in the UK and US on December 14, 2012. Part two - There And Back Again - will follow in Christmas 2013.
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Watch the trailer for The Hobbit: An Unexpected Journey below: