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Madrid wrapped up the LaLiga title with four games to spare and host Real Betis on the final matchday of the league season, with a Champions League final against Liverpool to follow on 29 May in Paris.
Bale to leave Real Madrid at season's end
Bale's role in its success to this point has been extremely limited, making just seven appearances in all competitions this season, totalling only 290 minutes of action.
The Wales international, who will hope to qualify for the World Cup when his country face either Ukraine or Scotland in their play-off final on 6 June (AEST), was expected to leave Madrid when his contract runs out at the end of the season, and Ancelotti confirmed that was the case on Friday.
Bale has won four Champions League titles during his nine-year spell in the Spanish capital, scoring three final goals.
But his exit will mark the end of a turbulent stay in Madrid, with his Los Blancos commitment regularly coming under scrutiny from Madridistas and the Spanish press.
Ancelotti could not promise Bale a final farewell appearance at the Bernabeu on Friday as injury problems persist, but the Italian insisted the 32-year-old's name will be etched into Madrid's history books.
"Bale isn't 100 per cent fit, and he won't be in the squad. Tomorrow I'll choose if he's on the bench or in the stands," Ancelotti said.
Asked about his future, Ancelotti said: "The contract ends, and he will leave. It is not so important if he plays tomorrow. Bale is part of the history of this club. He will remain in the memory of all Madrid fans.
"He was important in the Decima [the club's 10th Champions League win], in Kyiv, in the Copa del Rey. He has written important pages in this club's history, and we have to take that into account."
While Bale will not feature against Betis, who are winless in their past 10 LaLiga visits to teams from the Madrid region, Ancelotti will continue to rotate his side to build fitness for the Champions League final.
"I think about giving minutes to the players who need it the most," Ancelotti continued. "Tomorrow Marcelo, [Luka] Modric... [David] Alaba will train with the group starting on Monday."
Karim Benzema has scored 27 goals in LaLiga this season and is set to become the first French player to finish a campaign as the top scorer in the competition's history, but he is expected to be rested again.
Despite fielding another heavily rotated side, Ancelotti expects an exciting game against Copa del Rey winners Betis.
"We are the two teams that have won the competitions," he said. "It will be an entertaining game because Betis plays quality football."
