The Blancos boss reveals he could picture himself ending his career in Spain and hopes that if AC Milan do not win the Scudetto then Rudi Garcia's Roma do
Ancelotti took over the reins from Jose Mourinho in the summer.
And asked if he saw his future back in Italy, the former Juventus and AC Milan trainer stated that he may well choose to call an end to his career after his time at los Blancos.
"Coaching Roma or Italy? That's not the the first time I have been asked this question," the 54-year-old told AS.
"The only thing I can say that after Real Madrid I will consider my options, I might decide to retire, I might even decide to give up smoking."
He then gave praise to Rudi Garcia and his work at the current Serie A table-toppers Roma, and says he would be content with them winning the league title.
"I like Roma a lot because I can understand and imagine what’s happening there right now. I’m happy for the coach. I know him from Lille and he’s very good, his teams play good football.
"I’m happy for him and for the city. If Milan don’t win then I hope Roma do."