The 54-year-old had long been the favourite for the position and admitted the France job was the only one he wanted after turning down several club offers since leaving Real Madrid in 2021.
"The France job was the only one I wanted," Zidane said after his unveiling in Paris.
"I've had offers over these four or five years to take charge of a club, and I turned them all down for the French national team."
Zidane replaces Deschamps, whose 14-year spell in charge came to an end after France finished fourth at the 2026 FIFA World Cup.
Deschamps enjoyed one of the most successful periods in French football history, guiding France to World Cup glory in 2018 before leading them to another final four years later.
The appointment sees Zidane return to the national team in a new role after helping France win the 1998 FIFA World Cup and the 2000 European Championship as one of the country's greatest players. He also played alongside Deschamps during France's World Cup triumph on home soil.
France have turned to one of the most successful coaches of the modern era. During two spells in charge of Real Madrid between 2016 and 2018 and again from 2019 to 2021, Zidane won 11 major trophies, making him the second-most successful manager in the club's history behind Miguel Munoz.
His remarkable record included three consecutive UEFA Champions League titles in 2016, 2017 and 2018, a feat no other coach has achieved in the competition's modern era. Zidane also won two La Liga titles, two UEFA Super Cups, two FIFA Club World Cups and two Spanish Super Cups.
The Frenchman also built a reputation for thriving under pressure, winning all nine cup finals his Real Madrid side reached.
Former Real Madrid defender Nacho Fernandez believes the club can look forward to a bright future under Jose Mourinho, saying the Portuguese coach will demand total commitment from his players.
Andrea Pirlo has confirmed he is no longer in the running to become Italy's next head coach after his commercial links with a Russian betting company came under heavy scrutiny.
FIFA president Gianni Infantino has defended the 2026 FIFA World Cup, accusing critics of spreading "hate" and "false rumours" while insisting the tournament was a success that united football fans around the world.
Chelsea manager Xabi Alonso believes new signing Morgan Rogers has everything needed to make an immediate impact at Stamford Bridge and says the England international will strengthen the club's attacking options.
