From The Lord of the Rings wiki
Bilbo Baggins
Bilbo Baggins is a hobbit of the Shire who became the first person in Middle-earth to voluntarily relinquish the One Ring.
Bilbo Baggins was a respected resident of Bag End who gained notoriety after he was recruited by the wizard Gandalf the Grey to assist a company of dwarves in reclaiming the Lonely Mountain. During this journey, he discovered a mysterious gold ring in the caverns of the Misty Mountains, which he later bequeathed to his nephew Frodo Baggins.
Legacy
Following his adventures, Bilbo authored his memoirs, titled There and Back Again, and spent his later years in the Shire studying elven lore. His decision to pass the ring to Frodo set in motion the events that would eventually lead to the formation of the Fellowship, which included Aragorn, Gimli, Legolas Greenleaf, Samwise Gamgee, Meriadoc Brandybuck, and Peregrin Took. He eventually departed Middle-earth for the Undying Lands alongside the elves and Gandalf.
