Orlando Bloom is not yet officially attached to Peter Jackson's adaptation of The Hobbit, to reprise his role as Legolas, but it looks like he is close to signing on:

"Yeah, it's looking like that. I'm really excited about going to see Pete [Jackson] again. It's still a little up in the air, but the idea of working with Pete is fantastic. I can't actually really talk too much about it, at this point. I just was given the script to piece through, so it's quite exciting."
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"I just have to grow my hair really long and blonde again."

Production is currently underway in New Zealand.