The Paris Saint-Germain forward scored only the second hat-trick in World Cup final history but his bid to become the youngest two-time winner since Pele in 1962 ended in heartbreak in Qatar. He is also the second man to score in back-to-back World Cup finals.
Congratulating him, Pele commented, "My dear friend, Mbappe, scoring four goals in a final. What a gift it was to watch this spectacle to the future of our sport."
Watch Mbappe's dazzling hat-trick:
Meanwhile, hailing his performance in the tournament, France captain Hugo Lloris said the World Cup in Qatar marked a shift towards the team's new generation led by Kylian Mbappe.
The tournament was "a passing of the baton between one generation coming to the final stage of their careers to a new generation led by Mbappe," said goalkeeper Lloris, who turns 36 later this month.
"It was like a boxing match, we went blow for blow," said Lloris and added, "We didn't give up. We needed a winner and it was decided on penalties. That's always cruel. We are empty."
Mbappe is erasing any doubts as to who will succeed him and Cristiano Ronaldo as football's new superstar.
He is already up to sixth on France's list of all-time top scorers with 36 goals, one behind Karim Benzema -- the Ballon d'Or winner whose absence in Qatar was mitigated by the brilliance of Mbappe.
Only Brazil's Ronaldo has scored as many times at a single World Cup over the past half-century. His 12 goals at the finals before the age of 24 have shattered Pele's previous record of seven.