Del Toro has directed a wide variety of films, from comic book adaptations (Blade II, Hellboy) to historical fantasy and horror films, two of which are set in Spain in the context of the Spanish Civil War under the authoritarian rule of Francisco Franco. These two films, The Devil's Backbone and Pan's Labyrinth, are among his most critically acclaimed works. They share similar settings, protagonists and themes with the 1973 Spanish film The Spirit of the Beehive, widely considered to be the finest Spanish film of the 1970s.[9] Del Toro views the horror genre as inherently political, explaining, "Much like fairy tales, there are two facets of horror. One is pro-institution, which is the most reprehensible type of fairy tale: Don't wander into the woods, and always obey your parents. The other type of fairy tale is completely anarchic and antiestablishment."[8]

He is close friends with two other prominent and critically praised Mexican filmmakers Alfonso Cuarón and Alejandro González Iñárritu.[10] The three often influence each other's directorial decisions, and have been interviewed together by Charlie Rose. Cuarón was one of the producers of Pan's Labyrinth, while Iñárritu assisted in editing the film. Del Toro has also contributed to the web series Trailers From Hell.[11] In April 2008, del Toro was hired by Peter Jackson to direct the live-action film adaptation of J. R. R. Tolkien's The Hobbit. On May 30, 2010, del Toro left the project due to extended delays brought on by MGM's financial troubles. Although he did not direct the films, he is credited as co-writer in An Unexpected Journey.[12] On June 2, 2009, del Toro's first novel, The Strain, was released. It is the first part of an apocalyptic vampire trilogy co-authored by del Toro and Chuck Hogan. The second volume, The Fall, was released on September 21, 2010. The final installment, The Night Eternal, followed in October 2011. On December 9, 2010, del Toro launched Mirada Studios with his long-time cinematographer Guillermo Navarro, director Mathew Cullen and executive producer Javier Jimenez. Mirada was formed in Los Angeles, California to be a collaborative space where they and other filmmakers can work with Mirada's artists to create and produce projects that span digital production and content for film, television, advertising, interactive and other media. Mirada launched as a sister company to production company Motion Theory.[13] Del Toro is currently in post-production on Pacific Rim, a science fiction film based on a screenplay by del Toro and Travis Beacham. In the film, giant monsters rise from the Pacific Ocean and attack major cities, leading humans to retaliate with gigantic mecha suits called Jaegers. Del Toro commented, "This is my most un-modest film, this has everything. The scale is enormous and I'm just a big kid having fun."[14] The film is set to be released on July 12, 2013.