France lost to Argentina in the 2022 World Cup final in Qatar, where he guided France to World Cup victories in 2018 and 2022.
Since the 54-year-old former Chelsea midfielder took over as manager in 2012, France has also reached the 2014 World Cup quarter-finals and the EURO 2016 final.
Deschamps won 89, drew 28, and lost 22 of his 139 games.
The French Football Federation said assistant coach Guy Stephan, goalkeeping coach Franck Raviot and fitness trainer Cyril Moine would also stay with the national team.
Deschamps, a player for France in the 2021 Nations League victory, also helped his country won the World Cup in 1998.
His latest contract, signed in December 2019, ran until the end of the 2022 World Cup.
He will now oversee France’s Euro 2024 qualifying campaign in Germany before concentrating on qualifying for the 2026 World Cup, which will take place in the United States, Canada, and Mexico from June 2026.
