The main focus of this paper is on bilevel optimization on Hilbert spaces involving two monotone equilibrium bifunctions. We present a new achievement consisting on the introduction of inertial methods for solving these types of problems. Indeed, two several inertial type methods are suggested: a proximal algorithm and a forward–backward one. Under suitable conditions and without any restrictive assumption on the trajectories, the weak and strong convergence of the sequence generated by the both iterative methods are established. Two particular cases illustrating the proposed methods are thereafter discussed with respect to hierarchical minimization problems and equilibrium problems under a saddle point constraint. Furthermore, numerical examples are given to demonstrate the implementability of our algorithms. The algorithms and their convergence results improve and develop previous results in the field.