Readers frequently comment on the voice of the narrator of The Hobbit, often attributing to it the book's success. Some have called it professorial, because it gives a great deal of information on rather esoteric topics like runes, the lifestyle of hobbits, and the ancient history of dwarves and elves. It is certainly congenial, however, and one of the reasons The Hobbit is so enjoyable to read is the pleasure the narrator takes in telling the story.
The story of The Hobbit is related from a third-person omniscient point of view; that is, by a narrator who is not a character in the story himself (there is no "I" in The Hobbit) but who nonetheless knows everything there is to tell. He knows what some of the characters are thinking, especially more complex characters like Bilbo, Gollum, and Smaug. He describes Bilbo's daydreams about food and tobacco, for example, and the alternatives he faces when making choices; he describes Gollum's unique psychology.
This narrator also knows what will happen in the future of the story. The first time Bilbo thinks longingly of his hobbit-hole and wishes he were back home, the narrator explicitly tells you that this will not be the last time Bilbo has such regrets. On different occasions, he reveals that a certain character or place won't be seen again; he hints at the future death or disappearance of some characters. When Bilbo is rescued by the Lord of the Eagles, you are told (Chapter 7) that Bilbo won't see the eagles again until the Battle of Five Armies (Chapter 17). In his prophetic vision, the narrator shares some of Gandalf's magical power; this is consistent with the power that has traditionally been attributed to storytellers. He is in control of the plot of the story.
