Real Madrid made the 22-year old forward a top target to sign over the summer however, after much speculation, a move didn't materialize.
Ancelotti will make his return to the Bernabeu on Sunday when his side take on a struggling Celta Vigo in LaLiga.
Head Coach, Real Madrid
"No, I am not disappointed, but it is clear that (Kylian) Mbappé is a great player, he has stayed at PSG, we wish him good luck. We think about our squad, about our players, because we have a very strong squad. A squad that can do a lot this year."