Optimization of hyperparameters of artificial neural network (ANN) usually involves a trial and error approach which is not only computationally expensive but also fails to predict a near-optimal solution most of the time. To design a better optimized ANN model, evolutionary algorithms are widely utilized to determine hyperparameters. This work proposes hyperparameters optimization of the ANN model using an improved particle swarm optimization (IPSO) algorithm. The different ANN hyperparameters considered are a number of hidden layers, neurons in each hidden layer, activation function, and training function. The proposed technique is validated using inverse modeling of two meander line electromagnetic bandgap unit cells and a slotted ultra-wideband antenna loaded with EBG structures. Three other evolutionary algorithms viz. hybrid PSO, conventional PSO, and genetic algorithm are also adopted for the hyperparameter optimization of the ANN models for comparative analysis. Performances of all the models are evaluated using quantitative assessment parameters viz. mean square error, mean absolute percentage deviation, and coefficient of determination (R2). The comparative investigation establishes the accurate and efficient prediction capability of the ANN models tuned using IPSO compared to other evolutionary algorithms.