The host nation saw their campaign end in disastrous circumstances as a 7-1 semi-final humiliation at the hands of Germany was followed by a 3-0 defeat to Netherlands in Saturday's third-place play-off.
It was a disappointing way for Brazil to finish a tournament that they started brightly, but in the end, without star man Neymar - who missed both heavy losses with a serious back injury - they were exposed.
Rousseff, however, penned an open letter in which she urged the team to hold their heads high.
"Dear players and coaching committee," it read. "You - and Brazilian football team - are greater than any result.
"What will remain stronger in the hearts of our people will be the moments of joy that you have given us in this World Cup...all of us, without exception, will now take advantage of the lessons for further improvement [in] our football, inside and outside the stadium.
"That is how we will expand the success story of our national team.
"We Brazilians do not take the cup, but we made the best...World Cup ever. Without you, this would never be possible.
"Receive our affection and our sincere thanks, Dilma Rousseff."
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