Sir Ian McKellen will play his Lord of the Rings character Gandalf again

Sir Ian McKellen has played Gandalf in six films, from the first Lord of the Rings to the recent Hobbit films. Photo / supplied

Sir Ian McKellen will play the role of Gandalf once more in a new one-man show.

McKellen will reprise the role in a production at London's Park Theatre called Shakespeare, Tolkein, Others & You, according to NME.

The veteran actor has portrayed the iconic wizard in six film adaptions of J. R. R. Tolkein's beloved fantasy novels, firstly in The Lord of the Rings films and then The Hobbit trilogy.

Shakespeare, Tolkein, Others & You will explore McKellen's five-decade career as an actor, revisiting some of his most iconic acting roles.

In a statement on the Park Theatre website, McKellen said the show will raise money for preservation of the theatre.

"In a short time the theatre has established itself on both the theatrical and local maps. But with no public subsidy for core costs they need to bring in donations of around £250,000 every year just to keep the doors open," he said.

McKellen once turned down a $1.5 million offer to officiate a wedding dressed as Gandalf.