"With Bilbo (Martin Freeman), Gandalf (Ian McKellen) and the dwarves finally done with introductory dawdling, they dive into a nonstop adventure among the noble Elves, the rough-hewn humans of Laketown and the ferocious dragon Smaug (voiced by Benedict Cumberbatch)," said Time.
The magazine singled out Andy Serkis for praise, calling his work as second-unit director "spectacular".
"Each complex encounter, especially a flume-ride escape of the dwarves, boasts a teeming ingenuity of action and character."