"I can make it clear, the truth is that I am very fond of my club, my players and my fans. I'll talk about my future on the 25th (of May)," Ancelotti told reporters on Saturday ahead of a home game against Celta Vigo.
Brazil are now expected to pursue Al Hilal boss Jorge Jesus.
The veteran Italian has one more year on his contract with the Spanish giants but after quarter-final Champions League elimination by Arsenal and Copa del Rey defeat by rivals Barcelona, is poised to depart the Santiago Bernabeu.
Real Madrid refused to partake in planned Copa del Rey final related activities on Friday because they were angry at complaints made by the match officials earlier in the day, the club told media in Seville.
Ancelotti's future has been questioned following their Champions League quarter-final loss to Arsenal, with multiple reports suggesting he could leave Real at the end of the season to take over the Brazil national team.
Real Madrid coach Carlo Ancelotti said striker Kylian Mbappe is poised to return from injury to face rivals Barcelona in the Copa del Rey final on Saturday.
Real Madrid coach Carlo Ancelotti praised his team's character after their hard-fought 1-0 win over Athletic Bilbao on Sunday, keeping their LaLiga title hopes alive while responding in the best possible way to their Champions League exit.
Barcelona will be aiming to open up a seven-point lead at the top of LaLiga table when they welcome Europe-chasing Celta Vigo on Saturday.
Jurgen Klopp is "very happy" in his current post at Red Bull despite rumours linking him to a return to management with Real Madrid, his agent said Friday.
The Brazilian winger was dismissed in Madrid's 2-1 victory on Friday for pushing Valencia goalkeeper Stole Dimitrievski in the back of the neck.
Real Madrid coach Carlo Ancelotti said Sunday it would be "difficult" to be Vinicius Junior after the player was sent off against Valencia.
Barcelona, leaders since August, have slipped to third after winning only one of their last seven league matches, losing the top spot to Atletico Madrid in a 2-1 home loss last month.
The 26-year-old Frenchman netted the opener and set up another goal as Real beat mid-table Sevilla to move up to second place in LaLiga, closing the gap on leaders Atletico Madrid to one point going into the winter break.
Carlo Ancelotti warned Real Madrid's La Liga rivals Saturday that superstar striker Kylian Mbappe's adaptation period is now complete.
He became the first manager to capture titles in each of Europe's top five leagues — England, Spain, Germany, Italy and France — and has guided Real Madrid to two Champions League and LaLiga doubles in three seasons.
Real missed the chance to move above leaders Barcelona in LaLiga as they stay second on 37 points from 17 matches, one behind the Catalans who host Leganes on Sunday when Atletico, in third place on 35 from 16 games, welcome Getafe.
Real Madrid have endured a series of injuries this season, with several key players missing significant time, including Dani Carvajal and Eder Militao who are out for the rest of the campaign with ACL tears.
Off the back of a fabulous campaign in which they won record-extending titles in LaLiga and the Champions League, Real have struggle in their European title defence, losing three of their last four continental matches.
Mbappe, who joined in the summer at the end of his Paris Saint-Germain contract, was criticised for his performance and has netted just two goals in his last nine games for Madrid.
