An entertaining 1-1 draw at Stoke left the Blues 11 points behind Barclays Premier League leaders Manchester United and even with a match in hand that appears too big a gap to close.
However, Chelsea face United in the quarter-finals of Europe's premier club competition on Wednesday with Ancelotti admitting that now represents their best chance of silverware.
"It is a very important game, obviously, but I think we have to be happy to be involved in this game," said the Italian. "Everyone is waiting for this game. We want to do our best and want to show our best ability and we know there are 180 minutes to play and we hope to win.
"In the title race we have to close the gap, in the Champions League we are at the same level of the other teams so we have more chance to win.
"It will not be a surprise to play against them, they know us very well and we know them very well. We have to play our football and I think we will do better. We will have a very exciting game against United, they are one of the best teams in Europe."
Source: PA
Source: PA