The Bleus boss is proud of how his team performed in Brazil but regrets that he was not able to steer France beyond the last eight.
The 1998 winner 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.
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However, Mats Hummels' first half header ensured Les Bleus exited the competition at the quarterfinal stage as they succumbed to a 1-0 defeat to Joachim Low's men.
"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 quarterfinals."
France's next major tournament is on home soil as it hosts the 2016 European Championship. Deschamps has two years left to run on his contract.