The young Belgian has been in superb form over the past two seasons and helped his current side to put a massive dent in PSG's title hopes by winning 2-1 over the weekend.
However, despite the attacker's performances and the Parisien club's ambitious plans to become a major force in Europe, Ancelotti has refuted reports linking his team with a move for the player.
"We are not interested in this player [Eden Hazard]. We have other targets," the Italian trainer told L'Equipe.
Hazard has been heavily linked with a summer transfer to the Premier League with Manchester United, Manchester City, Tottenham and Chelsea all believed to be fighting it out to secure the services of the 21-year-old.
The player himself told Canal+ at the weekend that his ambition was to move to England and he would choose to cross the Channel over an offer from a French club.
"Paris [PSG] is interesting, but my objective is to go to the Premier League, because I have had my time in France. I want to finish the season with Lille and then go to England."
Hazard has made 34 Ligue 1 appearances this term, scoring 17 goals and grabbing 19 assists in the French top flight.