The capital giants have brought Kylian Mbappe and Endrick to Bernabeu this summer, but they have decided against signing a centre-back or central midfielder despite Nacho's exit and Toni Kroos's retirement.
There have recently been suggestions that Real Madrid could enter the market over the next couple of weeks, but Ancelotti has firmly rejected those claims.
"The squad is closed and now we have to wait 12 days for it to finish. We don't need centre-backs because [David] Alaba will recover soon and properly," the Italian told reporters ahead of Sunday's La Liga contest with Mallorca.
"We also have young players ready to play for us. Unfortunately, Joan [Martinez] is out injured, but we also have Jacobo [Ramon] and [Raul] Asencio. They can make a contribution in some matches."
Real Madrid's transfer business has concluded
Jude Bellingham operated in a deeper position against Atalanta BC in the UEFA Super Cup on Wednesday night, with Mbappe, Rodrygo and Vinicius Junior playing as the front three, but Ancelotti has said that the Englishman's role has not changed from last term.
"Bellingham's position has not changed in comparison to the end of last season. He always plays on the left of midfield and I haven't changed his position," said the manager.
"Sometimes he comes back down to help play the ball out, but his offensive role is the same. I have to evaluate tomorrow's team to see whether I make changes or not.
"Mbappe, Vini Jr., Rodrygo and Bellingham have played together for the first time and have not had any difficulty when combining. Good players have that spark and the ability to play with quality. I don't need to try other things because they know how to play together."
Ancelotti opens up on Kroos departure
Kroos retired from professional football after representing Germany at Euro 2024, with the midfielder stepping away from the game despite again proving himself to be a vital player for Real Madrid during the 2023-24 campaign.
Ancelotti has admitted that it will be "impossible" to replace the German due to his unique skill set.
"The first game went well, but we'll always miss Kroos because he was a special player. Finding another Kroos is impossible and the team has to adapt to something new. It's not a bad thing because if you get too used to things, you might lose motivation," he added.
"On the other hand, if you put something new in, the players have to think a bit more. That's good for motivation and focus."
Real Madrid beat Atalanta 2-0 on Wednesday to lift the UEFA Super Cup, with Federico Valverde and Mbappe finding the back of the net to secure the trophy.