PSG are threatening Chelsea's plans to re-sign Real Madrid coach Jose Mourinho.
The Daily Star Sunday says Mourinho is a genuine contender for the PSG position.
Like Mourinho's Madrid, PSG are in the quarter-finals of the Champions League, in addition to being league leaders in France.
But despite that, Ancelotti's position is under threat at the cash-rich, Qatari-owned club.
Mourinho, expected to quit The Bernabeu in the summer, has admitted his ambition is to return to the Premier League.