Blanc addressed the media on Friday ahead of his side's Ligue 1 match against Lille this weekend having penned a new deal that is set to keep him at the Parc des Princes until 2018.
PSG are runaway leaders in the French top flight but, despite the new contract, former France captain Blanc does not believe failure in the Champions League would be tolerated by his bosses.
"There were no criteria in relation to this contract and, yes, I am taking this extension as a mark of confidence," he said.
"I am very proud and I thank my staff, without whom I would not be much. I also thank the players for the results, and thank you to the board.
"I am honoured to continue the adventure - extending by two years is a kind of recognition but I do not delude myself.
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"The ambition of the club is still very large, responsibilities are important and I know that the demand will be even greater in the future."
Star striker Zlatan Ibrahimovic is yet to commit his future to the club, with the Sweden captain out of contract in Paris at the end of the season.
Blanc would not be drawn on the talismanic 34-year-old specifically, but underlined his general wish to keep the squad together ahead of next term.
"I extended yesterday and you already ask me the situation for players' [contracts]," the coach added.
"You will ask me this question later and get answers.
"But there is a lot of desire to extend [contracts in] the group. Many want to continue with the base of that squad."