Despite heading into the tournament targeting a sixth title, the hosts were thrashed 7-1 in the semi-finals by eventual winners Germany, who went on to beat Argentina in the final at the Maracana.
Head coach Luiz Felipe Scolari resigned from his role after pressure was put on the CBF to part company with the 65-year-old, but Zico believes that there need to be more changes on the way in the near future.
"It's time to put on the sandals of humility and start from scratch," Brazil's former midfielder told Bild. "You can't keep hiding. You have to change many things. Many things have to change.
"All I hear is that there were mistakes and that it does not matter when you lose in the semi-final against Germany, whether it's by one goal or seven. But that's not acceptable.
"We need to rethink the training of our players. We should be working mostly with young talents."