This work aims to define and experimentally evaluate an iterative strategy based on neural learning for semi-blind image restoration in the presence of blur and noise. Salient aspects of the proposed strategy are the use of a local error function derived from the conventional global constrained error measure and the assignment of a separate regularization parameter to each image pixel based on local gray level variance. This method can be viewed as a neural strategy where the pixels of the restored image are the synapse's weights the neural network tries to modify during learning to minimize the output error measurement. The method was experimentally evaluated in terms of restoration quality and speed using test images synthetically degraded and increasingly corrupted. To investigate whether the strategy can be considered an alternative to neural restoration procedures, the results were compared with those obtained by well known Hopfield-based restoration approaches. Results obtained show that our method performs significantly better and faster than other models considered.