Luiz Felipe Scolari's men were beaten 3-0 by Netherlands in Saturday's third-place play-off as Brazil suffered further humiliation following their 7-1 semi-final hammering at the hands of Germany four days earlier.
Cesar, 34, was recalled to the national side by Scolari last year having previously come under fire for his display in Brazil's 2-1 quarter-final loss to Netherlands at the 2010 World Cup.
But, after his 86th cap ended in defeat to the same opponents in Brasilia, the 34-year-old Cesar accepts that it is probably time for him to step aside.
"This is probably my last World Cup," he said.
Cesar made his international debut at the Copa America in 2004, but does not feel it would be appropriate for him to compete at the same tournament next year.
Instead, he believes that is time for the likes of Botafogo's Jefferson and Atletico Mineiro's Victor, who were unused at the World Cup, to come into the fray.
"To play at the Copa America in 2015, at the age of 35, would be quite complicated.
"To go there without having the 2018 World Cup in mind would be selfish on my part.
"It [Brazil's failure] is a sad moment for Brazilian football. Now I think it is time to relax and try to forget about all of this.
"The time has come for other goalkeepers and I think Brazil has seven or eight who are quite capable of pulling on the national jersey."
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