The 18-year-old came off the bench to score a leveller against Atletico Madrid in La Liga on Saturday night, with the attacker heading a Luka Modric corner into the back of the net to make it 1-1.
Rodriguez has now featured on three occasions for the first team this season, including the team's last two league fixtures, while he was an unused substitute against Liverpool in the Champions League last week.
Ancelotti has revealed that the teenager will continue to be used by both Real Madrid Castilla and the first team this season, before making the permanent step up to the senior side next term.
"For next season he will be in the first-team squad because he has the quality that few others have. For his age, he is tall, powerful and a formidable header," said the Italian after the Madrid derby on Saturday.
"In this last part of the season we will evaluate if we need him, which I think we do, Castilla or both. We have to handle him well and Raul and I will discuss what to do.
"He has shown all his quality and it is a special night for him and for us because we are beginning to realise that he will be useful in this part of the season.
"I ask him for what we needed. Height in the centre because in this type of game and having Karim [Benzema], who is not a usual centre forward, putting in a player of this quality was good for us. We needed to focus more because he is formidable with his head."
Ancelotti also insisted that his side were not out of the title race despite the fact that Barcelona would move 10 points clear at the summit by beating Almeria on Sunday night.
"It is not goodbye to La Liga. It is more complicated than before the match, but we have to fight and fight until the end. Now the cup is the most important thing because it is the next game and we are very close to a title. We are 270 minutes away from winning a title," he added.
"We conceded the goal due to the quality of the other team, something we have to take into account in football. It also happened to them with our goal.
"These are things that can happen, but their goal came at a time when we could've pushed forward and that lowered the team's morale. It's quite normal that we are not at our best because it's the 17th game in 50 days, since 30 December."
Atletico had Angel Correa sent off for an elbow on Antonio Rudiger before taking the lead through Jose Gimenez, but Rodriguez answered back to secure a point for the reigning champions.
Real Madrid will now switch their focus to the Copa del Rey, with the team preparing to host Barcelona for the first leg of their semi-final on Thursday night.