With the increasing penetration of renewable energy and inverter‐based resource (IBR) generation, modern power systems are facing new challenges and issues in the system restoration process, such as the needs of fast response and adaptive protection and control during the restoration. This paper reviews the current restoration strategies of major countries and regions including European Union (EU) ENTSO‐E, North America (NA) Electric Reliability Corporation (NERC), China, Australia. Firstly, the Restoration Plan (RP) of all above countries and regions are briefly summarised. Then the RPs are compared and analysed from perspectives of (a) Activation conditions, (b) Restoration Stage Classification, and (c) Restoration time requirements. By introducing the detailed RPs of UK National Energy System Operator (NESO) and NA New York Independent System Operator (ISO) and PJM, the participants within the RPs are illustrated and compared for the roles of Generation and Interconnector, Transmission, Distribution, Load, System service provider etc. Through a real case study of the restoration process of the south Australian power system blackout, the system restoration procedure is analysed in detail, and the restoration stage classification proposed in this paper is shown. Finally, the challenges of the current RPs of major countries and regions are summarised, and potential solutions and future work are proposed.