Philip Lahm's last-minute strike finally ended Turkey's dreams of going all way in Austria and Switzerland after thrilling semi-final clash in Basel.
Terim says he has decided to return to club management and that he will work outside Turkey.
"Most probably after speaking to the federation president and the players I will choose to say this is what I have done," said Terim.
"I had declared earlier I would not be working in Turkey. I am a man who keeps my promises. So I will most probably go back to a European country."
Terim was proud of his players after going so close to reaching the final.
"I congratulate Germany for their win and wish them success for final but I am proud of my players and think their will to play well, and the technical support, all came together and they were able to show the world what a good team they were," added Terim.
"I think we are leaving as the most colourful team of the tournament. We can say we were almost there, but that is part of football as well."