There are no log entries for this kind of operation in the Windows event logs.
However assuming you are using IIS 7+ and the changes are not made in local web.config files there may be a way to find out when a configuration change occurred.
Open 'C:\inetpub\history' (you may need to do this as a elevated administrator) there are a bunch of CFGHISTORY_00000xxxxxx folders.
Each time you make configuration changes to IIS through the GUI, Script or API the previous version of the configuration files are saved here.
IP restrictions are stored in applicationHost.config, you can use a DIFF tool to compare files or manually look at the sections 'ipSecurity' (usually at the end of the file).
This may tell you when the change was made, but not by whom. You could check the event logs for a user who logged on to the server in the same time frame.
On a certain number of change-sets are stored and older history folders are deleted automatically.
EDIT: If you want to keep more history entries use:
appcmd.exe set config -section:system.applicationHost/configHistory /maxHistories:"50" /commit:apphost
More information about configuring the config history on iis.net