Reports proposed that the Argentine striker had agreed to join the Italians for £30million but Ancelotti has dismissed those claims following his side’s 6-0 friendly win over Bournemouth at Dean Court on Sunday.
"Not true, I don't have any news about this," said Ancelotti.
"I think that now we have to speak about Higuain as a Real Madrid player. He is a fantastic player and a fantastic striker who took one minute to score tonight.
"He is very important to us and nothing else - it is not my business to judge the price of a player."