Bale has not started a game since September 14, when Los Blancos drew 2-2 against Villarreal.
However, the Italian boss has stated that the world's most expensive player may return to the starting lineup for Saturday's Clasico.
"It is important for him to get match time, his fitness is better and he is ready to play a match now," Ancelotti told reporters.
"Bale likes to play on the right and when he plays he will play there. He came [on against Malaga] when the match had no intensity."
Bale, who has come on as a substitute in the last two games, has been suffering with a back injury.