The pair are back at Chelsea after helping England win the U17 European Championships this summer.
"[Chalobah was born in] 1994, so young, and for him it is important to stay with us for some time. His team will be the youth team for next season," Ancelotti explained to chelseafc.com. "[McEachran] has to improve, he has fantastic skill, is in the national Under 17 team and has his future.
"I think three, four or five players can be with us in the squad next season. We have a lot of young players ready to play in our team."