The Les Blues gaffer previous deal was due to expire after Euro 2020, but following a successful spell in charge of the national team, he has been given the security of being able to work through until the end of their World Cup defence in Qatar.
Deschamps , who is in an exclusive club of men to win the World Cup as both a player and a coach, was first appointed to the role following the disappointing showing at Euro 2012 under the guidance of Laurent Blanc.
He has since overseen a record 100 games with France, of which he has picked up an impressive 65 victories, scoring 196 goals in the process.
His greatest triumph came in 2018, when he guided Les Bleus to their second World Cup and first since 1998.
Playing with a shrewd tactical approach, which was dovetailed with devastating pace on the counterattack, France were able to dispatch the likes of Argentina and Belgium en route to the final, where they proved much too strong for Croatia in a 4-2 victory.
Two years earlier, Deschamps suffered the disappointment of defeat in the final of Euro 2016, which his nation hosted, going down to a 1-0 loss against a Portugal side that showed the type of pragmatism that he learned from for two years later in Russia.
France have been placed in a pool with defending champions Portugal and Germany, a side desperate to regain face after they were eliminated in the group stages in Russia for Euro 2020.
Deschamps is hoping to make France just the second team to follow up World Cup success with a victory at the Euros. Les Bleus did it in 2000, while Spain did likewise in 2012.
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