The Italian won the Bundesliga title in his debut season at the club last term and is expected to challenge for honours domestically and in the Champions League again this time around.
However, Basler claims that Ancelotti will not see the season out with Bayern as he has already agreed a shock move to China, which he expects to be completed before the New Year.
"Some days ago I heard that Carlo Ancelotti has already signed a contract for a club abroad starting in the winter," Basler told German talkshow Sport 1.
"It's said that he has already signed a pre-contract at the place where the most money exists, in China.
"I cannot confirm it 100% but my source is very trustworthy. Let's put it this way: I can't say anything negative about my source, who I completely trust. I'm not saying it's definitely true, but this is what I've been told."
Guangzhou Evergrande could be a possible destination for Ancelotti, with current boss Luiz Felipe Scolari under pressure at the Chinese outfit.