c. 1500, "restore to a position or status, bring back to a former state," from Latin restitutus, past participle of restituere "restore, replace" (see restitution). The sense of "give back, refund, make restitution" is attested by 1730s. Related: Restituted; restituting.
The earlier verb in Middle English was restituen (restitue), late 14c., from the Latin verb via Old French restituer (14c.).