The transportation of hazardous materials (HAZMAT) on congested motorways is an area of increasing concern for public safety and environmental awareness. This paper models and analyzes the commercial transportation of HAZMAT on motorway in a Colored Timed Petri Net framework. The proposed model allows estimating in real time the risk of HAZMAT transportation, by taking into account the type of transported hazardous material, the traffic and the density of population living close to the motorway. In order to show the potentialities of the model, a real case study involving a stretch of a motorway in the North-East of Italy is simulated and different scenarios are analyzed. The results illustrate that the model is able to provide a support for the risk analysis and the rescue decisions after an accident.