The Italian says the young attacker is at ease with his bit-part role at the moment and insisted the Clasico is not in his thoughts ahead of Saturday's match at Malaga
The young Spanish forward has been in prolific scoring form since the turn of 2014 due to an extended spell in the first team with cup games and injuries affecting several players.
However, with the main attacking trio back fit Jese has reverted to a spot on the bench but the Italian insists the 21-year-old is comfortable with the situation at the Santiago Bernabeu.
"Every day I talk to Jese, he is calm and understands the situation and knows that he can help the team," Ancelotti told reporters on Friday. "Jese does not ask for time to play, he's concentrating.
"All players have to be ready because even if they play one minute, it may be the most important minute of the season."
Los Blancos, who lead La Liga by three points over Atletico Madrid and four points over Barcelona, travel to Malaga on Saturday and Ancelotti was keen to focus on that game instead of next weekend's Clasico.
"We have not talked about the Clasico," he added. "Tomorrow is very important against a team that have done well recently and have their confidence up.
"I'm comfortable with the team, I know they're focused. We're not talking about the Clasico, we are focused on Malag. And then come the reigning champions."