Netherlands missed out on a place in the final by succumbing to a 4-2 defeat in a penalty shoot-out against Argentina after extra-time had finished goalless.
Instead of competing in Sunday's Rio de Janeiro showpiece, the Dutch will now take on hosts Brazil in the third place play-off in Brasilia on Saturday.
That clash will mark Van Gaal's last as Netherlands coach before he leaves his post to take over at Manchester United.
"A dream is gone," Van Gaal said. "We had a goal; we wanted to win the world title.
"We did not succeed, and it really does hurt.
"The Dutch team has never remained unbeaten at a World Cup. This must now be the target.
"I hope that I can prepare the players and we can beat Brazil and make history."
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