We report on the first time-resolved small-angle neutron scattering (SANS) study of the structural relaxationfrom a shear-induced aligned state back to the isotropic state in a system of giant wormlike reverse micelles.The micelles are formed by lecithin and small amounts of water in cyclohexane. A liquid sample with themicellar volume fraction φ = 0.3 was exposed to a steady shear of γ̇ = 10 s-1 in a Couette shear cell. Thiswas sufficient to transform the whole sample into an aligned state with the polymer-like micelles preferentiallyoriented parallel to the velocity direction. After cessation of shear, the sample relaxes back to the equilibriumliquid phase. By time-resolved SANS we could follow the relaxation process, which is characterized by acontinuous decrease of the order parameter.