Despite leading Madrid to the Copa del Rey title this season, it has been suggested that failing to secure either La Liga or the Champions League will lead to Ancelotti's sacking.
However, the Italian has insisted that he has had no contact with United, who are on the lookout for a new manager after relieving David Moyes of his duties last week.
"I respect everyone. I haven't had contact with Manchester United. I want to stay at Real Madrid for a long time," he told reporters at a press conference.
"It's strange to discuss my future in the middle of a Champions League semi-final."
Ancelotti joined Madrid from Paris Saint-Germain last summer.