France eased past Sweden 3-0 to book a meeting with Paraguay, but Deschamps felt the scoreline could have been even more emphatic after his side squandered a string of first-half chances.
"We did what we had to do, even if we were a little timid in the opening 15 minutes," he told a press conference.
"After that, we showed our ability to create chances. The only regret is that we weren't clinical enough in the first half. We could have put the game to bed earlier, but we made them run so much that it became easier after the break."
Deschamps was pleased that his team had come through the opening knockout hurdle comfortably but warned that tougher tests lay ahead.
"The knockout stage is difficult for everyone, even if we made things a little easier for ourselves today. We're only in the last 16," he said.
Deschamps was equally determined to keep expectations in check despite France extending their status as one of the tournament favourites.
"We're not going to get carried away. We'll enjoy being here, then come back down to earth within 48 hours," he said.
"We know what's waiting for us in four days. First we'll take time to enjoy this victory, then we'll have to be ready to do it all over again."
Thirteen goals in four games
France have dazzled throughout the tournament, scoring 13 goals, but have also conceded opportunities, and Deschamps believes his side must continue to evolve if they are to lift the trophy for the third time.
"We have to keep raising our standards because the opposition will only get stronger. They'll attack better and defend better," he said. "There are still areas we need to improve. We conceded a few too many chances, even if (goalkeeper) Mike (Maignan) has been outstanding. We need to make some adjustments to our positioning, but the players communicate a lot with each other."
Despite those caveats, Deschamps praised the collective commitment that has underpinned France's impressive run.
"There's a very strong connection when we have the ball against deep-defending opponents, and when we lose it everyone is willing to work hard. Everyone is involved," he said.
"I'm satisfied and proud of that. Now we have to maintain it and keep repeating it."