The 52-year-old Frenchman led his country to the 2018 World Cup title in Russia after France defeated Croatia 4-2 in the final.
Deschamps will want to continue adding silverware to France's trophy cabinet and he is in a very strong position with his squad depth for Euro 2020.
Tottenham and France captain Hugo Lloris is likely to start as the No 1, but Deschamps also has Marseille's Steve Mandanda and Lille's Mike Maignan for that position.
Bayern Munich's Benjamin Pavard and Lyon's Leo Dubois could both start as France's right-back, while Bayern's Lucas Hernandez and Everton's Lucas Digne can play at left-back.
Deschamps is spoilt for choice with centre-back options, with France's squad boasting the likes of Raphael Varane, Clement Lenglet, Kurt Zouma, Presnel Kimpembe and Jules Kounde.
Pushing ahead to the midfield features star-studded talents like Manchester United superstar Paul Pogba and Chelsea star N'Golo Kante.
Other options for the France boss include Juventus' Adrien Rabiot, Spurs' Moussa Sissoko and Bayern's Corentin Tolisso.
Paris Saint-Germain superstar Kylian Mbappe is likely to start for Deschamps' men, but Borussia Monchengladbach's Marcus Thuram and Atletico Madrid's Thomas Lemar will provide further depth for winger options.
When it comes to wingers, Barcelona teammates Antoine Griezmann and Ousmane Dembele and Bayern's Kingsley Coman could all play out on the right wing.
Deschamps recently made the shock announcement that Real Madrid striker Karim Benzema would return to the France squad after an absence of nearly six years.
Benzema will compete against Chelsea's Olivier Giroud and Monaco's Wissam Ben Yedder to become Deschamps' No 1 striker for France's Euro 2020 squad.
Following Benzema's return to the national team, Deschamps admitted that he met his fellow countryman and had a "long reflection to come to this decision."
The France head coach explained: "There were important steps. We saw each other. We discussed at length.
"I had a long reflection to come to this decision. I won't reveal a word of the discussion, that concerns us. I needed it, he needed it."
The rescheduled Euro 2020, which was initially postponed due to the coronavirus pandemic, will be held in June and July across multiple European cities.
France will be in Group F alongside Germany, Hungary and Euro 2016 champions Portugal.
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