Mourinho believes England surpassed expectations at the World Cup after last night's semifinal defeat.
"England may cry because they were so close, but they can also be optimistic. The team has done much better than past tournaments. It is a young team, the majority of the players will be back next World Championship and then have more experience at club level," he told RT.
"If I were the boss of the English Football Association, I would not hesitate to give Gareth Southgate and Steve Holland extensions for the European Championship and the next World Cup. The players and everyone involved in this World Cup have made the country proud and can also look back on the tournament with pride."
Mourinho worked with Holland as Chelsea manager.