The Italian coach recently praised the Portuguese ace and admitted he could see him playing well alongside PSG's star striker, Zlatan Ibrahimovic.
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However, the former AC Milan and Chelsea boss has slammed reports suggesting Ronaldo might soon be leaving the Santiago Bernabeu for the cash-rich Ligue 1 club.
"I can't confirm what has been said in newspapers today," Ancelotti told reporters, referring to reports that Leonardo is working on bringing Ronaldo to France. "Do I want him to come to Paris? No."
PSG have enjoyed an unbeaten start to their league season but suffered a setback in the Champions League when they lost to Porto in midweek.
Real Madrid, on the other hand, have won both their European clashes but are struggling in La Liga, lagging eight points behind Barcelona after just six games.