Deschamps, who had led France to the FIFA World Cup in Russia, became the fourth French coach to win the World's Best National Coach after Aime Jacquet (1998), Roger Lemerre (2000) and Jacques Santini (2003).
Deschamps earned 304 points by football experts from 90 countries and regions, overshadowing World Cup runners-up Croatia's Zlatko Dalic (198 points) and Belgium's Robert Martinez (84 points) in the vote.
Zidane won the World's Best Club Coach for the second straight year. He had guided Real Madrid to their third consecutive UEFA Champions League title last season before announcing his departure from the position.
Zidane beat Jurgen Klopp of Liverpool and Manchester City's Josep Guardiola for the award.
Elsewhere, midfielder Luka Modric, who had led Croatia into the World Cup final, added the World's Best Playmaker to his already World Cup Best Player and FIFA Best Player awards.
The World's Best Goalkeeper belonged to Belgian Thibaut Courtois, while the World's Best Top Division Goal Scorer award was shared by Barcelona superstar Lionel Messi and Benfica striker Goncalves Oilveira Jonas, both with 34 goals for their clubs.
