Hoffenheim boss Julian Nagelsmann has emerged as the leading contender to be given the vacant managerial role at Bayern Munich.
Earlier on Thursday, Bayern announced that they had parted company with Ancelotti in the wake of the club's 3-0 defeat to Paris Saint-Germain in the Champions League.
The reigning Bundesliga champions also sit three points off the pace in the top-flight standings, and Bayern will be eager to find a replacement in the near future.
Nagelsmann is currently regarded as the favourite to succeed Ancelotti by a number of bookmakers after leading Hoffenheim to fourth place in the table last season.
The 30-year-old - who has a contract at the Wirsol Rhein-Neckar-Arena until 2021 - has won 28 of his 58 matches in charge, as well as losing just 12 times.
Current interim boss Willy Sagnol is also said to be in the running, with former Borussia Dortmund chief Thomas Tuchel being deemed the most likely outsider for the position.
