Ancelotti says 20 goals a season is a bare minimum for the striker.
The Italian said: "I think he's [Richarlison] a player you cannot put a target on. He's a fantastic player, of course 20 goals is the minimum but I expect more from him.
"He's still young but he has a lot of quality, a lot of character. As I said yesterday he's really cool in front of goal and I think every one of us is happy to have this kind of striker.
"I think he's going to improve and he is improving, because he's still young. With experience and more knowledge he can improve his qualities.
"He's complete because he's comfortable in the box, he's comfortable outside the box, he's comfortable in the counter attack. He can play on the right, on the left, in front - he's a really, really good player for us."