The former Chelsea and Real Madrid boss said that both players would be a fit with the way his side plays, as he look to put together a squad capable of chasing down runaway champions Juventus and ending their eight-year monopoly of the Serie A title.
England defender Trippier’s wife was reportedly spotted in Naples last week, fuelling speculation that a move is close to being done.
And now the manager has reaffirmed his admiration for both targets, as reports emerge that a deal for Mexico international Lozano has already been reached.
"Lozano and Trippier are among those that Napoli are following, I can confirm that,” Ancelotti told a press conference .
"I can say that both are among the ones we are evaluating and therefore, being honest, I can only confirm my appreciation. Now we must proceed with the various steps [towards a transfer].
"The club and I want to improve the overall quality of the team and our ability to know how to read some moments of the games. These are the type of players we are looking for."
Corriere dello Sport reported on Sunday that Napoli have already agreed a fee of €40m (£34m) for PSV striker Lozano, with the 23 year-old set to sign a five-year deal with the Serie A side.
The forward is set to miss the Dutch side’s title run-in with Ajax after injuring his knee in a league game against Willem II.
Meanwhile, Ancelotti poured cold water on rumours that the club is about to swoop for Cagliari striker Nicolo Barella.The 22-year-old midfielder scored his first goal for Italy during a Euro 2020 qualifying win against Finland in March, and has been heavily linked, and Manchester United have also reportedly sent scouts to check on the player.
"He always has our appreciation, because he is a great footballer,” said Ancelotti. “But now he is not among those we are looking at.”
Napoli finish up their Serie A campaign with games against Barella’s Cagliari, SPAL, Inter and Bologna, having all bur confirmed their participation in next season’s Champions League.