While the Italian has not been formally announced by the Merseyside club, it is believed that a deal is very close.
And Wenger believes that it is an appealing move for the Toffees, who would normally struggle to attract a manager with such a CV.
Ancelotti has won the Champions League on multiple occasions, while he has managed top clubs in nearly every major European league.
"Well it was quite a surprise that he had to leave Napoli," Wenger told Sky Sports on Ancelotti.
"Everton are looking for a manager as well.
"So overall he will be a tremendous catch for Everton."