Dubbed the ‘Mineirazo’ by local media, the heavy defeat denied Brazil a chance to capture a sixth World Cup crown on home soil, drawing parallels with the infamous ‘Maracanazo’ final of the 1950 tournament.
Scolari admitted that his future is far from certain, but was quick to point out the positives he had achieved in his time as Brazil boss, including winning World Cup 2002 and the 2013 Confederations Cup.
"After this [the World Cup] is over, the chairman Marco Polo Del Nero and [the Brazilian Football Confederation] will talk and we'll see what happens,” he said to reporters.
"I don't see my work as negative. Except for that one bit that was catastrophic, the 7-1. If we had lost 1-0 it wouldn't have been catastrophic, but we still wouldn't be at the final."
“What I know is that in a year and a half we had many good things. I can't see only one result that will change a lot if my job was good.
"Our image was scratched because of the result, that was awful. We had changes in the second half that could've helped make the defeat less terrible. But we lost, they were superior.
“I have to be ashamed of it, but we need to see the good side. It's something that's going to be marked on all of us, but so is the Confederations Cup title."