Director Johan Zandbergen is currently overseeing the production of a fan-made, feature-length, animated The Hobbit, which is set to come out by Christmas 2014. All evidence suggests that we will be in for a treat. According to Tolkien Brasil, the script is "very faithful to the books and presents the childish tone that Tolkien’s work expresses, without losing the air of Middle-earth and seriousness of the mission of the dwarves."
Here is a teaser trailer for the film, along with a few posters. Visit the movie's Facebook page, or visit the website to find out more.
Sources: Tolkien Brasil, The Hobbit - Animated Feature Facebook Page