Deschamps became France boss in 2012 and has since signed two contract extensions, the latter of which came after World Cup glory at Russia 2018.
The 53-year-old's current deal expires after Les Blues aim to defend their title at Qatar 2022, leading to speculation that former Real Madrid boss Zidane will be appointed after the tournament.
Le Graet suggested the appointment of Zidane has not already been pre-agreed as he placed his support behind Deschamps.
"We both agreed not to renew him until after the World Cup," Le Graet said of Deschamps to L'Equipe. "He's not mad at me. He adores me. I think he will never say anything bad about me.
"He lost a game in the European Championship and for much of France, he should have been fired [after the last-16 exit to Switzerland at Euro 2020].
"We'll see at the end of the World Cup if he wants to renew. We will spend time in Guingamp to discuss."
When pressed for an answer as to Zidane taking charge as Deschamps' successor, Le Graet responded: "First of all, you have to be careful with what you say. Zidane showed in Madrid that he had qualities that were barely imagined.
"In the minds of the French, he could be a successor. But that is not my goal. We'll see. If Didier and I split up, he will definitely be one of the options.
"Maybe Zidane will take charge of Paris Saint-Germain. To train the national team you have to be free. But today we will do everything possible to put Didier in the best conditions to win this World Cup."
