Arsenal's 1-0 win over Newcastle on the final day prevented Spurs' Gareth Bale-inspired victory against Sunderland from making a difference as they finished fifth behind their great rivals.
The Portuguese's plans have not changed, however, as he insisted to reporters after the game.
"I said before this game that, whether we made it into the Champions League or not, we would have to raise the bar again because our competitors will do the same," he remarked.
|PREMIER LEAGUE LATEST
|6/4||Tottenham are 6/4 with BetVictor to finish in the top four next season
Villas-Boas is adamant Tottenham will be able to hold onto star man Bale this summer even with only Europa League football to offer rather than the top table.
"It will be very, very difficult to lure a player of this dimension away," he warned of the Welshman. "You have to hold onto your best assets.
"The Europa League is a wonderful competition won by Chelsea, the European champions.
"Getting 72 points and not making it means that next season to compete at this level we have to make probably more than that [next season]," the 35-year-old added.
"The other teams have great squads and will continue to add quality. Next year we'll have to be extremely competitive.
"We have given it a good run in the end - the difference between teams is very, very short. We will make that a lesson to take into the future.
"It's difficult for me. Obviously we would ideally have achieved that fourth spot. We certainly did enough to deserve it but we didn't in the end and, moving forward, it is where we want to be so we will try next season.
"I see how fans feel regarding the Champions League and I think we've all shown the determination and character this season but the others have done ever so well."