Disruptive events, such as earthquakes, floods, and landslides, may disrupt the service provided by transportation networks on a vast scale, as their occurrence is likely to cause multiple objects to fail simultaneously. The restoration program following a disruptive event should restore service as much, and as fast, as possible. The estimation of risk due to natural hazards must take into consideration the resilience of the network, which requires estimating the restoration program as accurately as possible. In this article, a restoration model using simulated annealing is formulated to determine near‐optimal restoration programs following the occurrence of hazard events. The objective function of the model is to minimize the costs, taking into consideration the direct costs of executing the physical interventions, and the indirect costs that are being incurred due to the inadequate service being provided by the network. The constraints of the model are annual and total budget constraints, annual and total resource constraints, and the specification of the number and type of interventions to be executed within a given time period. The restoration model is demonstrated by using it to determine the near‐optimal restoration program for an example road network in Switzerland following the occurrence of an extreme flood event. The strengths and weaknesses of the restoration model are discussed, and an outlook for future work is given.