Delivery of multiple neurotrophic factors (NTFs), especially with time‐restricted release kinetics, holds great potential for nerve repair. In this study, we utilized the tetracycline‐regulatable Tet‐On 3G system to control the expression of c‐Jun, which is a common regulator of multiple NTFs in Schwann cells (SCs). In vitro, Tet‐On/c‐Jun‐modified SCs showed a tightly controllable secretion of multiple NTFs, including glial cell line‐derived NTF, nerve growth factor, brain‐derived NTF, and artemin, by the addition or removal of doxycycline (Dox). When Tet‐On/c‐Jun‐transduced SCs were grafted in vivo, the expression of NTFs could also be regulated by oral administration or removal of Dox. Fluoro‐Gold retrograde tracing results indicated that a biphasic NTF expression scheme (Dox+3/−9, NTFs were up‐regulated for 3 wk and declined to physiologic levels for another 9 wk) achieved more axonal regeneration than continuous up‐regulation of NTFs (Dox+12) or no NTF induction (Dox−12). More importantly, the Dox+3/−9–group animals showed much better functional recovery than the animals in the Dox+12 and Dox−12 groups. Our findings, for the first time, demonstrated drug‐controllable expression of multiple NTFs in nerve repair cells both in vitro and in vivo. These findings provide new hope for developing an optimal therapeutic alternative for nerve repair through the time‐restricted release of multiple NTFs using Tet‐On/c‐Jun‐modified SCs.—Huang, L., Xia, B., Shi, X., Gao, J., Yang, Y., Xu, F., Qi, F., Liang, C., Huang, J., Luo, Z. Time‐restricted release of multiple neurotrophic factors promotes axonal regeneration and functional recovery after peripheral nerve injury. FASEB J. 33, 8600–8613 (2019). http://www.fasebj.org