Ancelotti led Madrid to a Champions League and LaLiga double last season, becoming the first coach to win Europe's premier club competition on four occasions.
Ancelotti committed to Real Madrid amid Brazil links
Carlo Ancelotti insists he will see out his contract with Real Madrid "unless they kick me out" amid reports linking him with the vacant Brazil job.
The Italian is one of several high-profile coaches to be linked with the Brazil job, with Tite departing in the aftermath of the Selecao's World Cup quarter-final elimination at the hands of Croatia.
However, the Madrid boss plans to remain at the Santiago Bernabeu until his contract expires at the end of next season – unless his employers decide otherwise.
"I don't know what the future holds for me, I live day by day," Ancelotti said.
"At the moment, I'm great in Madrid, we have many goals this season. There will be time to think about my future.
"I have a contract until June 30, 2024 and, if Madrid don't kick me out, I won't move until that day."
Madrid entered the World Cup break two points behind bitter rival Barcelona at the top of LaLiga and will resume its campaign with a trip to Real Valladolid on 31 December (AEDT).
