The Italian is optimistic of his side's chances in progressing from their pool in Europe's elite club competition, after they were paired with Porto, Dynamo Kiev and Dinamo Zagreb
After Thursday's afternoon draw in Monaco, the French outfit found themselves in Group A alongside Portuguese champions Porto, Dynamo Kyiv and Dinamo Zagreb.
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They return to the Champions League after a three-year absence but Ancelotti is anticipating a positive result, telling the club's official website after the draw: "The draw is past, we must now play the matches. We will do our best to progress from the knockout stages.
"This is a new experience for the club. Teams like Porto, Kyiv and Zagreb have a certain international experience.
"Champions League matches are special, there's motivation, commitment. I hope that we will progress to the knockout stages by finishing top of this group."
PSG have not enjoyed the greatest of starts to their Ligue 1 campaign, having racked up three consecutive draws, but begin their quest for Champions League success against Dynamo Kyiv on September 18.