Bilbo was very rich and very peculiar, and had been the wonder of the Shire for sixty years, ever since his remarkable disappearance and unexpected return.
―The Fellowship of the Ring, A Long-expected Party
Bilbo Baggins was a Hobbit who lived in The Shire during the final years of the Third Age. His adventure with the dwarves Thorin and company earned him a fortune, and brought the One Ring of Sauron back into knowledge.
Before his adventures, Bilbo was considered a very prim and respectable Hobbit for his polite disposition and aversion to anything out of the ordinary.
Bilbo was noteworthy as the first ring-bearer in the history of Middle-earth to give up the One Ring voluntarily; he surrendered the ring to Frodo Baggins at Gandalf's request.