The Premier League champions were knocked out of the quarter-finals 2-1 on aggregate after a 1-1 draw with Atletico Madrid at the King Power Stadium on Tuesday.
Craig Shakespeare's side did well to only lose 1-0 in the Spanish capital last week to give themselves a chance at the King Power Stadium, but a Saul Niguez header after 26 minutes made their task infinitely more hard. They're an incredible team, I love what they've done and I honestly hope they go on to finally win it all.
"We'll sit down at the end of the season".
In the second half, Leicester City's Jamie Vardy responded with a splendid goal to square the match.
The first leg of the semis will take place on May 2 and 3, while the return leg will be played a week later on May 9 and 10.
They never gave up and persevered until the end.
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"I hope the benefit is that they want some more of it (Champions League football)".
Leonardo Jardim insisted Monaco will stay true to their attacking philosophy after advancing to the semi-finals of the Champions League.
Leicester captain Wes Morgan echoed the thoughts of his team-mate in regard to the squad being able to return to European competition in the coming years.
"We were living in fear throughout". "Players ultimately want to play at the highest level, but we have to get back to winning ways in the Premier League now".
He said after the match: "We gave an excellent team a really good shot".
"The Champions League is a tournament and not a league so it's a win and you're through, lose and you're out situation".
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Leicester can hold their heads high following their Champions League exit, with just a single goal separating them from Spanish giants Atletico Madrid over two legs. "I've loved it and I've loved the Champions League and pitting my wits against among the top supervisors and sides in the world".
Asked about his emotions at the end, Shakespeare, Leicester's manager, said: "Disappointment obviously to go out but immensely proud of the performance".
With Marc Albrighton and half-time substitute Ben Chilwell deployed as wing-backs, Leicester pinned Atletico back and drew level on the night when Vardy slammed in from close range.
"I also have to say, what a great performance from our opponents".
And even in defeat over two legs to this battle-hardened Atletico Madrid side - twice losing finalists in recent seasons - the Foxes can be proud of another monumental effort that just came up short.
"We played a very solid game, we were in control but we showed ambition".
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Far more so in the second half after a tactical switch from 4-4-2 to 3-5-2 by Shakespeare, who has spent two months as the temporary replacement for Claudio Ranieri, the architect of last year's Premier League title triumph who was sacked in February.