Ancelotti won the Champions League with the Spanish giants.
He told Marca: “Experience tells me that every Coach worth his salt should be in charge of Real Madrid once in his life. It's the best thing in the world, an almost unique experience.
“What happens in Madrid doesn't happen at any other club, as the number of fans all over the world is enormous. It's a wonderful experience and one that's worth having.
“Real Madrid are still the favourites for the Liga, as they remain a very competitive side. They haven't won it in four years, so the motivation will be even greater.
“Would I return to Real? Certainly, there's no reason not to. With the Bundesliga I have completed the top five Leagues: Italy, France, England, Spain and Germany."