The Les Bleus boss is proud of how his team performed in Brazil but still has regrets that he was not able to steer his team beyond the last eight, where they lost to Germany
The 1998 winners had been impressive in the group stage for the tournament, thrashing Switzerland and Honduras 5-2 and 3-0 respectively, before leaving it late to defeat Nigeria in the round of 16.
However, Mats Hummels' first half header ensured they exited the competition at the quarter-final stage as they succumbed to a 1-0 defeat to Joachim Low's men and Deschamps is yet to get over their elimination.
"The disappointment is still there," he told TF1.
"We still have a sense of frustration. We could have done some things better. The players showed a lot quality on the pitch and a collective desire to do things together.
"It was a great pleasure to be there with them and take them to the quarter-finals."
France's next major tournament is on home soil as they host the 2016 European Championship.