But the 31-year-old, who played a leading role in the 1995 and 1999 World Cups, admits he now has no hope of making the All Blacks squad after being overlooked for the 2007 Super 14 season.
"I'd be lying if I said I'm not disappointed about not getting a Super 14 contract," Lomu told the New Zealand Herald on Sunday.
"But I don't feel like I've let anyone down. I've given it my all.
"It's been a failure in the sense I didn't make the All Blacks but I certainly didn't fail myself. I dared to dream. Who can criticise me for that?"
Lomu became the youngest player to represent the All Blacks when he made his test debut in 1994 aged 19 and quickly established himself as the most exciting player of his generation, scoring 37 tries in his 63 test appearances.
A giant winger with strength and pace to match his size, Lomu was the outstanding player at the 1995 World Cup in South Africa, single-handedly destroying England in the semi-finals with four tries.
New Zealand lost the final to the Springboks in extra time then suffered a shock defeat to France in the 1999 World Cup semi-finals despite another destructive performance from Lomu.
He missed the 2003 World Cup in Australia after he was forced to commence dialysis to his deteriorating kidney before undergoing a transplant in 2004.
Lomu launched his comeback in 2005 in the hope of crowing his career with a World Cup victory but despite showing some encouraging signs, he was unable to regain his old form as a series of injuries restricted his appearances.
"If I had my time over again, I wouldn't do anything differently," he told the New Zealand Herald.
"I wouldn't even change the kidney illness. It has made me a better person."