"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.
Real Madrid coach Carlo Ancelotti said his troubled French striker Kylian Mbappe was as down as the rest of the team over recent setbacks but remained motivated ahead of Saturday's Liga clash with Osasuna.
Since Milan's triumph under Carlo Ancelotti in Athens 17 years ago Madrid have won the Champions League six times, three of those victories coming with Ancelotti in the dugout.
Los Blancos' La Liga match against Valencia on Saturday was postponed because of the situation in the east of Spain, where at least 217 people have died and many more are missing.
"We are hurt, it's a tough moment, but I want to thank the fans for their support. We don't have to throw everything away, because there is nothing to throw away," added a downhearted Ancelotti.
"Vinicius is going to win (the Ballon d'Or), not for what he did tonight, but for what he did last year. These three goals are already going to count for next year's Ballon d'Or, that's for sure. He is a player who gets whistled at because he can make a difference."
Real Madrid coach Carlo Ancelotti said Monday he wants striker Kylian Mbappe to focus on scoring goals over pressing to help the team.
Mbappe's lawyer told AFP this week the France captain was "shocked" to see his name linked to the investigation and he will take action for libel.
Real Madrid coach Carlo Ancelotti said Friday that two of the main factors behind his team's poor play this season are "lack of intensity in defence and slow ball circulation".
Los Blancos take on their rivals without the French forward, ruled out for three weeks with a hamstring injury.
Real Madrid coach Carlo Ancelotti said Monday his team's "many styles" of play have helped them go 38 La Liga matches without defeat.
