Villarreal's coach Manuel Pellegrini said his dressing room was "gutted" after the 0-0 draw which saw Arsenal reach the Champions League final.
Pellegrini was proud of his side - but "gutted" at the result
Pellegrini felt his side deserved to go through - but Jens Lehmann saved a penalty from Juan Roman Riquelme at the end to allow Arsenal to progress.
"It is difficult to explain how one feels after this," Pellegrini said.
He added: "We were even better than Arsenal at Highbury. We deserve to be in the final."
Pellegrini did say he was proud of his side, however.
"I thought from the first minute we could make it. We had three shots in the first half, two headers in the second and then the penalty. Until the last minute I thought it was possible.
"The players are very sad, they are gutted. I'm proud of the way they played but we also have a feeling of frustration because we played so well and we just couldn't make it."
Pellegrini refused to blame Riquelme for the penalty miss.
"It is not important," he said. "We should all think it is very difficult to be in that position and how he was feeling at the moment.
"It is a responsibility that big players have to take and he took it."