The Italian has long been rumored to be set to depart the Parc des Princes this summer despite guiding the Parisians to their first Ligue 1 title in 18 years, and the Blancos have repeatedly been mooted as his likeliest destination.
Ancelotti was voted the French top flight's joint-best coach along with Saint-Etiennes' Christophe Galtier on Sunday, but after the award ceremony he underlined his desire to leave PSG, though he did not provide an explanation.
"I had a meeting with the president and Leonardo and I asked to leave the club. Now, I must wait for their response to discover my fate," Ancelotti told Canal+ after picking up his UNFL accolade. "I turned off my phone [before I arrived at the award ceremony]. I have opportunities [from other teams] and Real Madrid are one of them.
"We will make a decision together because my intention is to leave the club. It's not easy because I have a very good relationship with everyone [at PSG], especially the players. This is not the right time to explain the reasons and maybe I will never explain why."
PSG striker Zlatan Ibrahimovic was voted Ligue 1 Player of the Year at the same event after a blistering first season in France, in which he scored 29 goals.