The annealing behavior of the reverse bias current‐voltage curves of 1 MeV electron irradiated In0.53Ga0.47As photodiodes has been measured at 300 K. The observed decay is shown to be correlated with the reduction of theE2 peak height with time, as measured by deep level transient spectroscopy. The reverse current is found to decay with a logarithmic time dependence, which can be explained by a model in which the annealing of theE2 defects is controlled by a distribution of thermal energy barriers.