The three-times Champions League winner has been out of work since leaving Real Madrid in May after failing to win a major trophy at the Santiago Bernabeu last campaign, despite guiding the club to their 10th Champions League crown a season earlier.
But the Italian has said he will not be rushed into his next job and ruled himself out of taking charge of any club in the middle of the season.
"Of course, for every manager, they would all think of managing Manchester United," Ancelotti told the Independent.
"But let us see next summer. I will not take a job in mid-season, but I would like to work again next summer.
"If I don't find a club with a good project, I can wait."
Ancelotti, who won the Premier League title and the FA Cup with Chelsea in the 2009-10 season, also said he would like to return to the Premier League.
"I would like to come back in a club with a good project, but, of course, one that is competitive," he said.
"The Premier League is the best in the sense of atmosphere, ambience. It is also competitive, so I would like to come back, especially for the atmosphere."
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