Hazardous materials transportation has received considerable attention in the last years. Many researchers have been developing mathematical models that minimize the risk associated to this operation. The present work is based on studies that focus routing techniques that minimize either the total distance, the expected number of accidents (fatal or not fatal), the accident probability, the residential population within a given distance from a route, or a mixture of these parameters. They work with the assumption that a route should not be chosen if the potential consequence incurred given that an accident occurs is high, even if the route has a very low probability of an accident, or a low associated expected consequence. For this reason, it is possible to observe that an important characteristic of the hazardous materials routing problem is the existence of multiple conflicting objectives. This means that a route that minimizes risk may not coincide with a route that minimizes the truck operating cost, or with a route that minimizes the risk imposed to special population categories. In this context, this research presents a multiobjective model to the Hazardous Materials Routing and also a specific solution methodology that determines routes that minimize the accident risk with low probabilities, but with high consequences, including the high cost affecting the environment and the population exposed. A number of extensions and open issues are indicated for future research.