The 45-year-old moved up from his role inthe London outfit's youth setup to replace Andre Villas-Boas in December, eventually leading the club to sixth in the Premier League.
However, his tenure was littered with rumours he would be replaced at the end of the campaign, despite signing an 18-month contract at White Hart Lane.
And Sherwood admits his dismissal by chairman Daniel Levy came as no surprise.
"Put it this way I didn't fall off my chair when he told me," he told ITV. "It's obviously a disappointment to lose your job, a job I thought I'd done reasonably well in.
"I have to respect the decision of the club. It's a massive club and bigger than any manager that comes in so I fully respect their decision."
Despite the disappointment of his departure, Sherwood is keen to get back into management as soon as possible.
"It was a massive learning curve, my first opportunity to manage," he added. "I've seen it all - wins, draws, losses, a few tantrums and the sack, which I didn't want to see, so I've experienced a lot in five months and certainly learnt a lot.
"I have to see if another door opens and onto the next, as they say.
"I like doing it. For anyone to want to do that job must be crazy but I knew what I was going into.
"It occupies your mind totally. I really liked it and really enjoyed it and I can't wait to get back in."
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.