Flamini has impressed since rejoining the Gunners on a free transfer in August, after deciding not to take up the offer of a one-year contract at AC Milan.
Deschamps has declared that he will keep a close eye on Flamini, leaving the door open for a potential Les Blues recall.
He told reporters: "I am watching Flamini. He had a difficult season last year, but he has found a good level. I am attentive."
The 29-year-old made the last of his three appearances for France more than five years ago.