While his team fell short, head coach Favre said securing 76 points – Dortmund's most since 2015-16 – was a fine achievement.
"It is a disappointment. Sure, we did not give up hope," he told a news conference.
"At one stage it was 1-1 between Bayern and Eintracht Frankfurt, then Bayern immediately scored to make it 2-1. We still believed in it, but most of all we focused on our game, on our task. We did not look much at the other teams' results.
"In the end it is clear that we are a little disappointed by the result of the championship, but we won our game. There was little missing to the title, but we are still very happy with our season.
"Nobody would have thought that we would get 76 points."
Favre felt defensive lapses proved costly for Dortmund, who conceded 44 league goals – 12 more than Bayern – during the campaign.
Together always and forever pic.twitter.com/Jc2qMhydDW— Borussia Dortmund (@BlackYellow) May 18, 2019
"It was tight this season. We haven't missed much, but overall you can say that we conceded unnecessary goals," he said.
"But we must not forget that we had good luck in the first half of the season. We turned around some games at the very end. That's why I always said that we still have much to do.
"Let's see what happens until the next season starts, but of course we always want to have another good season like this, 76 points is not easy to reach, that is clear."
Dortmund held a six-point lead in the table at the start of 2019 and extended that lead to nine points before a second-half slump saw Bayern retain their crown for the seventh year running.