Martin Odegaard will return to Real Madrid after his loan spell at Arsenal.
The 22-year old midfielder joined Arsenal on loan for the second half of the season.
Odegaard has scored two goals and made two assists from 20 appearances for Gunners this season.
The Norwegian international joined Los Blancos in 2015 from Stromsgodset in his native Norway and has been out on loan for four times since his move to the Bernabeu.
Odegaard is unsure if he will be crucial in Ancelotti’s plan to use him next season.
‘It is a coach I know and with whom I had a good relationship when he was last there,’ Odegaard said.
‘In that sense, it is positive. But beyond that, one day has passed, so I do not know too much about what he thinks about things.’
In his book Quiet Leadership: Winning Hearts, Minds and Matches, Ancelotti mentioned that president Florentino Perez was behind bringing a 16-year-old Odegaard to Spain.
He wrote: ‘When Florentino buys a Norwegian footballer, you simply have to accept it.
‘Furthermore, the president decided that he would play three games with the first team as a public relations exercise.
‘He could be the best player in the world, but I don’t care because he was not a player who I asked for. That signing was to do with PR.’