There has been a host of speculation surrounding Ancelotti's future in recent months, with Brazil believed to have identified him as their number one choice to replace Tite, who left after the 2022 World Cup.
Rodrigues has now confirmed that Ancelotti will arrive next year, with the Italian set to spend one more campaign in charge of Real Madrid before becoming a manager of an international side for the first time.
Fernando Diniz has replaced Brazil Under-20s head coach Ramon Menezes, who had been in charge on a temporary basis, with the 49-year-old set to keep his job at Fluminense during his spell at the helm.
"He is the coach and he is going to balance Fluminense and the national team during that time. For us, as coach of the Brazilian national team, he is not interim. He has a 12-month contract. He will make the transition to Ancelotti, who will arrive for the Copa America," said Rodrigues.
Ancelotti is widely regarded as one of the best managers in the history of the sport, winning a record four Champions League titles as head coach, twice with AC Milan and twice with Real Madrid.
The 64-year-old is currently in his second spell in charge of Los Blancos, and he led the club to the Spanish Super Cup, La Liga and Champions League titles during the 2021-22 campaign.
Ancelotti delivered more silverware last term, lifting the Copa del Rey, UEFA Super Cup and Club World Cup, but the 2023-24 campaign will be his final season at the helm.
Real Madrid are yet to make an official statement regarding their manager's departure, with the club instead focusing their efforts on the upcoming season.
Eder Militao, Vinicius Junior and Rodrygo are the three Brazilians in the Real Madrid squad, and the trio are expected to play key roles for Ancelotti at the 2024 Copa America.
The Selection were last in action against Senegal in a friendly on June 20, suffering a 4-2 loss, and they have actually been beaten in three of their last four matches, including a penalty-shootout defeat to Croatia in the quarter-finals of the 2022 World Cup.
Real Madrid, meanwhile, have made three signings during the summer market, bringing in Jude Bellingham and Fran Garcia from Borussia Dortmund and Rayo Vallecano respectively, while Joselu has arrived on loan from Espanyol.
Brahim Diaz has also returned to the club following a loan spell at AC Milan, with the forward signing a new long-term contract at Bernabeu.
There have been four first-team departures, meanwhile, with Karim Benzema, Marco Asensio, Eden Hazard and Mariano Diaz leaving the club on free transfers.