This classic (which has been available as a 1-volume edition since 1991) returns as a 3-volume, large format, hardcover set. Illustrated with 50 (total) paintings by Alan Lee. This edition also incorporates a few corrections to the text, not only restoring the line from the ring inscription that was missing in some of the editions printed in the mid-90s, but with a few other minor corrections (such as restoring the word "obviously" in The Shadow of Past which had been changed to "previously").

Volume 1 includes an updated Note On The Text by Douglas A. Anderson dated April, 2002. These volumes were resized to match the trim size of the Alan Lee Illustrated Hobbit. (The Ted Nasmith illustrated Silmarillion is also the same size, creating a unique set of illustrated editions with a uniform look and feel). The paper used throughout this edition is bright, sturdy, clay-coated stock. It also features Christopher Tolkien's 1980 maps printed in red and black as endpapers, rather than being printed in quadrants as in the one-volume edition.

A very elegant set for collectors, gift-givers, and anyone who wants a deluxe edition of The Lord of the Rings with the most up-to-date text. Some readers have observed, however, a reduction in quality of the reproductions of the illustrations which might well be the case, since the plates are most likely scans of the first edition, rather than reshoots of the original artwork.

Despite the corrections that were implemented in this edition, two major errors have come to light. Firstly, in FOTR, the last sentence of the Council of Elrond: Sam sat down, blushing and muttering. 'A nice pickle we have landed ourselves in, Mr. Frodo!' he said, shaking his head. is missing completely.

Secondly, in ROTK it appears that an older version of the Appendices may have been used, at least in the case of two specific pages: the Line of the Dwarves of Erebor at the end of Appendix A, and the Hobbit family trees in Appendix C (Estella Bolger is gone again).