The former Juventus coach replaced Laurent Blanc after Euro 2012 and led France to the quarter-finals of the World Cup in Brazil last year.
Deschamps - who captained France to World Cup glory in 1998 - originally had a deal that ran to end of Euro 2016, which Les Bleus will host.
That was extended by two years through to the 2018 World Cup earlier on Thursday and Deschamps is determined to build the foundations for a winning team.
"It [the new contract] defines more foundation and my authority," he said. "The situation is good.
"In management, particularly after a competition, knowing that there will be the same coach in place can help.
"Stability and continuity is important in football even if it is difficult to have.
"Me and my staff will do everything to ensure results."
Deschamps was also asked whether he would contemplate staying on beyond the length of his new contract, but he stated that it would be results that determine that outcome.
"We will have to see. I am not concerned about it," he added. "I am very happy and satisfied in this job.
"I said I wanted to stay for 10 years. It will depend on results and my desires."
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