Ancelotti will leave his job with Real Madrid on Monday, May 26, to take charge of the Selecao.
Brazil World Cup winner Kaka is excited by the Italian's arrival and told Caze TV: "I am happy with his arrival.
"Ancelotti contributes much more than just as a coach. His impact on Brazilian football will be enormous. I think he will leave a legacy. I am happy, he is not only one of the best coaches today, but one of the greatest ever."
Kaka also said: "He has decided to help the Brazilian national team. I heard from him, I congratulated him and welcomed him to Brazil. But at the moment he is very focused on Real Madrid: they have just won against Sevilla.
"He thought about the call-up with Juan and Rodrigo, but he is at the end of a cycle at Real and wants to conclude his story there in the best possible way. He is very focused, then he will think about the national team."