"Now there is an opportunity for the future American administration to compensate for its previous mistakes and return to the path of adherence to international commitments," Rouhani said at a government meeting for economic coordination in Tehran.
US President Donald Trump, who lost Tuesday's election to Democratic challenger Biden, has applied a "maximum pressure" policy and tough sanctions against Iran since his 2018 withdrawal from a landmark nuclear agreement with Tehran.
The reimposed sanctions targeted Iran's vital oil industry and banking ties, among other sectors.
This US "administration's harmful and wrong policy for the past three years was not only condemned by people all around the world, but was also opposed by the people of the US in the recent election," Rouhani said.
He added that the Iranian people's "heroic resistance against the imposed economic war" by the Trump administration "proved that America's maximum pressure policy is doomed to fail."
"Iran favors constructive interaction with the world,” Rouhani said.
Call for multilateralism
Iran’s’ Foreign Minister Mohammad Javad Zarif on Sunday also urged the new US government to walk away from the Trump administration’s “disastrous lawless bullying”.
“The world is watching whether the new leaders will abandon disastrous lawless bullying of outgoing regime,” Zarif tweeted.
The top diplomat called on Bidden to “accept multilateralism, cooperation and respect for law”.
He noted that for Iran “deeds matter most”, adding that the nation has a record of “dignity, interest and responsible diplomacy”.
Biden has said during his campaign that he plans to embark on a "credible path to return to diplomacy" with Iran, and pledged to rejoin Iran's 2015 nuclear accord with six powers, a deal that was agreed by Washington when he was vice president under Barack Obama, if Tehran also returns to full compliance.
In retaliation for Trump's actions, Tehran has gradually reduced its commitments to the accord. But the Islamic Republic has made it clear that those steps were reversible if its interests were respected.
Biden has said returning to the agreement would be "a starting point for follow-on negotiations" and that Washington would then work with allies to strengthen and extend the nuclear deal and address other issues of concern.
Iran has ruled out any talks aimed at further curbing the country’s nuclear activity, halting its ballistic missile program and limiting the Islamic Republic’s regional influence.
Iran's Leader Ayatollah Seyyed Ali Khamenei said Tuesday that the US election result would have "no effect" on Tehran's policies toward Washington.
AFP and Reuters contributed to this story.