The former Santiago Bernabeu sporting director is confident that the current Paris Saint-Germain boss would succeed with los Blancos if he does leave France this summer
Madrid have earmarked the Italian coach as the ideal candidate to replace Jose Mourinho after the Portuguese departed at the end of the season and Sacchi feels his compatriot would be a great choice.
"Ancelotti's biggest quality is his ability to adapt to his surroundings. He plays a different style of play depending on the players he has," Sacchi told AS.
"A coach's job always depends on the squad he has. It's going to be very complicated if you don't have the right players. Ancelotti has the ability to adapt, though. Carlo is a great person."
The 67-year-old then reflected positively on Mourinho's time at Madrid and feels that the Portuguese lacked luck during his three-year spell at the Santiago Bernabeu.
"Mourinho did not have much luck as he had to take on the greatest team of the past few years in Barcelona," he explained.
"His time at Madrid was not a failure as he won La Liga, the Copa del Rey and reached the semi-finals of the Champions League in each season."
Mourinho was confirmed as the new Chelsea manager on Monday after three years with the Blancos.