"My contract is coming up, and it was clear all along I would stop now. Maybe I didn't succeed in unifying the team and bringing the team together," Le Guen told reporters after a 2-1 loss to the Netherlands capped a miserable campaign that also included losses to Japan and Denmark.
"I will not point figures or accuse anyone. I thought I would have got better results with this match," he added.
Australia's coach Pim Verbeek is stepping down with his team also eliminated from the 2010 World Cup in the group stage.
"I am at the end of this mission. It was planned to be this way. I am going to think about the future and we will see," Le Guen added.
Le Guen inspired a renaissance during Cameroon's World Cup qualifying campaign last year, restoring his coaching reputation.
Lyon signed him as the successor to Jacques Santini when he was appointed France's manager in 2002. Lyon had won their first Ligue 1 title under Santini but Le Guen took them to three more championships.
But the club's fortunes did not improve much the season after and Le Guen needed police protection from militant fans angry at PSG's poor results. Despite reaching the French Cup final, and winning the League Cup, under Le Guen, PSG decided in May 2009 to let the coach go.
