Mbappe could join Real Madrid in the summer confirmed by Ancelotti.
The 23-year old striker has entered the final six months of his contract and is free to sign a pre-contract agreement with any club.
Mbappe could leave the French capital for free this summer unless PSG ties him to a new contract.
Real Madrid currently are the frontrunners for the Frenchman’s signature.
PSG have been trying to extend Mbappe’s stay at the French capital but no agreement has been reached yet between both parties.
The Frenchman has scored 15 goals in 24 games across all competitions this season.
Carlo Ancelotti confirms that Madrid won’t sign in January but they could make an approach in the summer.
“I don’t know. We think we will continue to fight for titles,” Ancelotti told reporters.
“It’s an interesting moment because we’re back in La Liga, we have the Copa del Rey on Wednesday. It’s an important moment. [Moving for Mbappe is] the last thing to do, which I think is what will happen on June 30.”