The European champions have been linked with moves for Luis Suarez and Arturo Vidal this summer but their coach insists they will be patient over transfers
Real ended a 12-year wait for their 10th success in Europe's elite club competition by beating city rivals Atletico Madrid in last month's Champions League final.
Ancelotti also led the club to Copa del Rey glory in his first season at Santiago Bernabeu, but has already been linked with moves for Liverpool star Luis Suarez and Juventus midfield duo Arturo Vidal and Paul Pogba in a bid to strengthen the squad and mount a Liga challenge next season.
The Italian, however, does not feel the need for wholesale changes in personnel ahead of next season and has vowed to wait until after the World Cup in order to secure the right deal.
"The squad is very good, we're very competitive," he told Real's official website.
"If we can improve it, which is not easy, we will, but I'm in no hurry.
"I'm very happy with these players. This squad won two titles and it will continue to be competitive.
"We've spoken and until the end of the World Cup I don't think we'll do anything.
"We have to wait, we have time because the window is open until the end of August."