The 29-year-old has been in devastating form for Bayern Munich so far this season, leading to speculation that Ancelotti would try to bring the talented winger back to France in January.
Ancelotti has insisted that the impending arrival of Lucas Moura from Sao Paulo in the new year means that he will not be launching a bid for Ribery.
"It is not true that Ribery could come to PSG," said Ancelotti.
"He is a very good player, but I cannot see where we can find a position for him in our group.
"I have too many people in that position, moreover we are expecting someone."