The former president of Los Blancos has little doubt that the Italian coach will stay put and feels that the Red Devils had no choice but to sack manager David Moyes
The Red Devils are in the market for a new manager following the sacking of David Moyes on Tuesday and Ancelotti has been mentioned as one of the candidates, although bookmakers' favourite Louis van Gaal is "very keen" to take the job.
However, Calderon expects the Italian to stay with Madrid even if last season's English champions make him an offer.
"I believe Carlo Ancelotti will be with Real Madrid next season," he told talkSPORT. "He's got a contract.
"We don't know what's happening with Manchester United."
Calderon feels that United had no other choice but to part ways with Moyes following their poor performances this term.
"It's always a pity when you have to sack a coach," he remarked. "I had that problem with Fabio Capello.
"Sometimes you have to take those decisions, though. Manchester United's results have not been normal so it's a decision they had to take."