Nominees for the award included World Cup goals scored by Russia's Denis Cheryshev, France's Benjamin Pavard and Portugal's Ricardo Quaresma.
Forwards Mbappe, Lionel Messi and Eden Hazard all featured in the team ahead of Salah who amassed far more votes than them and came closest to winning the titular award.
Since signing for the Reds last summer, Salah has won numerous personal accolades, with his performances for club and country earning him prestigious awards like the BBC African Player of the Year, PFA Player of the Year and Football Writers' Player of the Year.
Thibaut Courtois was named Goalkeeper of the Year (though he was omitted from the Team of the Year, where David De Gea was selected betwixt the sticks) while Peru were voted Fans of the Year for being thoroughly likeable at the World Cup.
Deschamps' win was no surprise, given the focus on Russian Federation 2018, and he used his acceptance speech to warmly thanks his backroom staff and players.
Salah was handed the gong for his curling strike against Merseyside rivals Everton though missed out on FIFA's The Best.
Deschamps said: "I want to thank the president of the French Federation who trusted me and helped me work serenely".
'I am looking forward to winning another award tonight. "Are you kidding me???" one perplexed fan asked.