Both had been nursing minor knocks, but after the two most expensive players in the world took part in training this week, Ancelotti has revealed that they will feature against their city rivals.
Both Turan and Costa were substituted early on in their side's 1-1 draw with Barcelona last weekend, a result that saw them win the La Liga title, but the club remain hopeful that they can feature on Saturday.
Atletico will be looking to win their first European Cup, while Real haven't won the competition since their victory over Bayer Leverkusen in 2002.
Real Madrid: WWDDLW
Atletico Madrid: DWWLDD
Possible starting lineups
Real Madrid: Casillas; Carvajal, Sergio Ramos, Varane, Marcelo; Modric, Khedira, Di Maria; Bale, Ronaldo, Benzema
Atletico Madrid: Courtois; Juanfran, Filipe Luis, Miranda, Godin; Gabi, Turan, Tiago, Koke; Villa; Diego Costa
Sports Mole says: 2-1