The Italian coach is confident his other attacking options are good enough and as a result does not feel the need to buy the enigmatic forward
The Italian striker has been linked with several clubs across Europe following his training ground confrontation with Roberto Mancini, but the 53-year-old coach will not try to sign another forward.
"Today, with Ibra and his position, we are covered in attack for many years to come. I do not think we need Balotelli," Ancelotti told reporters.
"Balotelli is a great player, he and Ibra are compatible but that is not the question. We have [Ezequiel] Lavezzi, [Kevin] Gameiro and [Jeremy] Menez who are also compatible."
The Parisiens boss also gave his thoughts on the training ground bust-up involving Balotelli, and feels the situation was probably blown out of all proportion.
"I do not think it was as bad as the newspapers made it out to be. I cannot judge Balotelli as a person anyway, only as a player and for me he is a good striker."