We study how a system of one-dimensional spin-1/2 fermions at temperatures well below the Fermi energy approaches thermal equilibrium. The interactions between fermions are assumed to be weak and are accounted for within the perturbation theory. In the absence of an external magnetic field, spin degeneracy strongly affects relaxation of the Fermi gas. For sufficiently short-range interactions, the rate of relaxation scales linearly with temperature. Focusing on the case of the system near equilibrium, we linearize the collision integral and find exact solution of the resulting relaxation problem. We discuss the application of our results to the evaluation of the transport coefficients of the one-dimensional Fermi gas.