The possibilities for the series are endless as Tolkien devised thousands of years of history to precede the War of the Ring.
Peter Jackson made three blockbuster films based on the Rings novels, with the third, 2003's The Lord of the Rings: The Return of the King, winning 11 Oscars, including the one for Best Picture.
However, fans anxious that the TV show will attempt to retell the story need not be concerned; the series will instead "explore new storylines preceding J.R.R. Tolkien's The Fellowship of the Ring", and will therefore be set before the events from the Oscar-winning trilogy.
Amazon Prime has announced plans to make a Lord of the Rings TV show with the support of the Tolkien Estate and Trust, HarperCollins and New Line Cinema.
The new multi-season series is Amazon's attempt to find its own mega-show like "Game of Thrones, said Sharon Tal Yguado, the head of scripted series at Amazon Studios".
No word yet on a launch date or cast but Amazon says the deal includes a potential additional spin-off series.
Tolkien fans take notice. It's important to note that it won't follow the events of the Lords of the Rings, but rather it is based on J.R.R. Tolkien's work and will feature original stories from that universe. Apart from the obvious significant details, Deadline reports that the Tolkien estate also approached Netflix and HBO, and that Amazon ended up paying close to $250 million to land the project.