This guide is only looking at actual dolls. There can be a fine line between dolls and action figures e.g Toybiz Deluxe range and plushes e.g NECA Talking Gollum Plush.
My definition of a doll, a; must have articulation, b; must have removable clothing and accessories.
I also only include commercially produced items, there are a lot of handmade dolls/clothing.
Collect Tolkien site has some good information.
Star Ace
Aragorn
Aragorn 2
Asmos
These are the highest quality dolls, they are absolutly fabulous but quite expensive.
Prototype
Reviews
The Asmus figures were primarily distributed by Sideshow who had exclusive editions which included some extras.
ACI
These are another high end dolls competing with Asmus, however, they only produced 2 figures.
Aragorn
Aragorn
Arwen
Legolas
Aragorn
Madame Alexander
Arwen and Frodo Set
Limited Edition 300
Arwen 10”, Frodo 8”
Grossle Schmidt
German
Limited Edition 1000
28’
Frodo
Gandalf
Pippin
Arwen
Franklin Mint
Designed by the Hildebrandt brother artist, these were the first Tolkien dolls and were very much collectors items.
Not movie based
Galadrial
Arwen
Eowyn
Gandalf
Barbie
Classic Barbies, Lord of the Rings movie based.
Aragorn and Arwen
Legolas
Galadriel
Barbie Holiday Collection
2003
Dragon In Dreams (DID)
Gandalf
Legolas
Frodo
Sam
Aragorn
Gimli
NECA
These are on the very border of action figures, but I think they are more dolls.
Gollum
Hobbit
Toybiz 12in Special Edition Collector Series
Variant
Applause
Frodo