Bilbo Baggins is a hobbit who lives a quiet life, until he is visited by a wizard named Gandalf. He wants Bilbo to help dwarves take back the Mountain from Smaug, a dragon, by having Bilbo be a burglar.
The thirteen dwarves are led by Thorin Oakenshield, whose grandfather left a map and key to the Mountain. One night, the group takes shelter in a cave, but are captured by goblins. Bilbo stumbles on a ring that can turn him invisible, where later his path is blocked by Gollum, who tries to eat him.
After a while, the dwarves are prisoners of the Wood-elves. Bilbo, uses the ring and frees the dwarves with a voyage to the Lake-town. There, finds the secret entrance to Smaug’s lair, where Bilbo wakes up Smaug, who then flies out to harm the Lake-men. Two days before in Lake-town, Smaug is killed by Bard.
News spreads of Smaug's death, so everyone wants the treasure. As Thorin hears this, he declares no one will take the treasure, but Bilbo, tired of waiting, delivers the Arkenstone to the Lake-men, where they will exchange the stone for a share of the treasure.
Suddenly, Dain, a dwarf, and his men arrive and the Battle of the Five Armies begins. As they fight, the goblins, and the Wargs arrive and the Battle of the Five Armies ensues. The Eagles and Beorn help the dwarves, men, and elves win, but Thorin dies.
Afterward, Bilbo and Gandalf return to Bilbo's home and Bilbo is left alone to live his life, just the way he likes it.