The 52-year-old believes that changes at Arsenal and other top clubs are imminent, and he is ready for a call back to English football.
"It's evident Wenger is wobbling and that within a few months Capello's place with the national team will go to an Englishman and free up a place at a club," Ancelotti said.
"I have a strong will to remain in England. For a coach, this is the ideal country.
"But I would only consider top clubs including Tottenham and Liverpool."
Ancelotti was dismissed from Stamford Bridge in May this year after failing to repeat the success of his 2009-10 season double.