Frenchman Le Guen said he had no regrets over his selections despite his side, the highest ranked African team at the tournament, losing 1-0 to Japan and 2-1 to Denmark.
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"I will not resign," he told a press conference immediately after the defeat.
"Not at all. I don't have any regrets and that's not how I operate. I try to work for the best of the Cameroon national team and either you trust me or you don't but that's the way things are."
He reinstated Alexandre Song, Geremi and midfielder Achille Emana for Saturday's match, and they delivered a much improved performance, but were unable to take advantage after taking an early lead.
In his pre-match conference on Friday he said it was time for his players to show some of the "lion spirit" they were always talking about.
"I don't fear anything," he said, when asked whether he would worry about returning to Cameroon. "It is sad but the team has shown a great deal of spirit."
Captain and striker Samuel Eto'o, who returned to playing up front on Saturday after struggling in a deeper role in the first game, declined to blame Le Guen for the defeat.
"I could have played centre forward against Japan and not scored a goal," the three-times African Footballer of the Year told reporters. "Today I scored a goal and I didn't win. Football is like that.
"We had high hopes of winning today to get back into the fight for the second phase, pity we missed so many chances."
