We present a global–local full‐waveform inversion (FWI) of surface waves to estimate a high‐resolution shear wave velocity model of the near‐surface at the site of Grenoble (France). The seismic data we use have been acquired in the framework of the InterPACIFIC project. A first attempt is made by employing the multichannel analysis of surface waves (MASW) to invert the fundamental modes of Rayleigh waves. This inversion is solved through a global optimization driven by the neighbourhood algorithm. However, the limiting 1D assumption, together with the severely ill‐posedness of the MASW inversion motivate us to exploit all the information content of the recorded Rayleigh waves (i.e., travel‐times and amplitudes) by implementing a global–local FWI approach. We first perform a global FWI in which a genetic algorithm (GA) is used to minimize the L2 norm difference between observed and simulated seismic waveforms up to 30 Hz. This inversion employs a two‐grid scheme in which the subsurface is described by a fine grid input to the forward modelling, whereas the unknowns are defined on a coarse grid. A bilinear interpolation brings the coarse‐grid model into the fine grid. To accelerate the convergence, two strategies are considered; offset marching and frequency marching. Then, the long‐wavelength velocity profile provided by the GA inversion is used as the starting point for a local FWI for further refinement of the predicted model. In this case, we employ a frequency‐marching strategy up to a maximum frequency of 60 Hz. Both the global and local approaches use a finite difference code for the forward computation. Despite the limited a priori information infused into the inversion framework, the presented global–local FWI scheme provides reliable results as demonstrated by the good match between recorded and predicted seismograms and by the agreement of the estimated velocity with both nearby borehole data and stratigraphic information on the study site. Our global–local strategy also achieves better data fitting and improved matching with the available borehole data with respect to the velocity profile estimated when the local FWI is started from the MASW predictions.