The African champions lost 9-7 to Switzerland in the match for third place, at the Luzhniki Beach Soccer Arena in Moscow. The Teranga Lions had lost their semi-final encounter against Japan 5-2 on Saturday.
Senegal had stormed the semi-finals after pulling off a surprise win against 14-time champions Brazil, becoming the first African side ever to advance to this stage of the FIFA Beach Soccer World Cup.
Russia were crowned champions after defeating Japan 5-2 in a tight final. Russia now have three world titles after triumphing in 2011 and 2013.
The hosts had defeated Switzerland 5-4 on penalties to advance to the finals.
Senegal won the African Beach Soccer Cup of Nations on home sand after overcoming Mozambique 4-1 in May.