Bale has been sidelined for three weeks with a thigh problem, restricting the Welshman to three appearances since his world-record switch from Tottenham Hotspur.
Ancelotti has rejected criticism that he rushed Bale into first-team action too quickly, insisting that he is now fit and raring to go ahead of tomorrow's clash with Malaga.
He told reporters: "I do not know if he will play the whole game against Malaga or not, but I will try to give him minutes. I have three disc protrusions and never had a problem in my career.
"I read I was a fool to play him against Villarreal, but I was not the first to do so. He was previously with the national team. There were no problems at Villarreal. It was afterwards that he suffered an overload.
"He does not have a back problem. You cannot play 100 games in four years with a hernia. His problem is that he has not had preseason. Now he can play and is ready for it."
The 24-year-old scored on his Madrid debut against Villareal, but has been forced to sit out their last two matches since.