Los Blancos attempted to sign the France international from Paris Saint-Germain in the latter stages of the recent transfer window but ultimately failed to convince the Ligue 1 giants to sell.
Mbappe's current deal in Paris is due to expire next June, though, and Real Madrid are believed to be confident of signing the attacker on a free transfer next year.
Ancelotti has branded the World Cup winner "a great player" but has insisted that Los Blancos are not disappointed to have missed out on signing him ahead of the deadline.
"There is no disappointment, but it is clear that he is a great player and we wish him luck. We have a very strong squad," Ancelotti told reporters.
The 22-year-old has started the 2021-22 campaign in impressive form for his French side, scoring three times and contributing two assists in four league appearances.
Monaco 
Stade Brestois 29 
Bordeaux 
Nimes 
Bayern Munich 
FC Augsburg 
Paris Saint Germain 
Toulouse 
CSKA Moscow 
FC Rostov 
Leicester 
Chelsea 
Valencia 
Betis 
Dynamo Kyiv 
Chornomorets Odesa 
Verona 
Inter 
Bayer Leverkusen 
FC Heidenheim 
Borussia Dortmund 
SC Freiburg 
VFL Wolfsburg 
Union Berlin 
Arsenal 
Nottingham Forest 
Everton 
Brentford 
Spartak Moscow 
Lokomotiv Moscow 
Rangers 
Dundee Utd 
Atletico Madrid 
Alaves 
Lens 
Marseille 
Ingulets Petrove 
Shakhtar Donetsk 
AC Milan 
Juventus 
ST Malo 
Manchester City 
Tottenham 
Eintracht Frankfurt 
Werder Bremen 
Girona 
Espanyol 
Feyenoord 
Heerenveen 
ST Etienne 
Montpellier 
Grenoble Foot 38 
Heart Of Midlothian 
Celtic 
Reims 
Lyon 
PSV 
Groningen