The Toffees sit third in the table after an impressive start to the campaign and they have been widely praised for their summer transfer business.
Ancelotti added midfielders Abdoulaye Doucoure and Allan to his side’s ranks, and landed the marquee signing of James Rodriguez from Real Madrid.
Meanwhile, the Italian manager is believed to be interested in bringing another one of his former Real stars to Goodison Park, with Isco heavily linked with a move.
But Ancelotti was coy about the transfer speculation after his side’s 2-1 defeat at Newcastle on Sunday.
He said: “Isco is a fantastic player and [I have] a fantastic memory of him but now I am not, honestly, focused there.
“I am focused on an important week we are going to have to recover players and to be well prepared for the game against United.”
Ancelotti spent two seasons in the Real Madrid hot seat and made Isco his first signing upon his appointment in 2013.
The Spanish playmaker featured prominently under Ancelotti, making over 100 appearances and scoring 17 goals.
But the 28-year-old has slipped down the pecking order at the Santiago Bernabeu in recent seasons and appears to have a frosty relationship with Los Blancos boss Zinedine Zidane.
Hitting out at his lack of game time last week, Isco said to Luka Modric and Marcelo: “If [Zidane] has to take me off, he takes me off in the 50th or 60th minute, sometimes at half-time.
“If he has to bring me on, he brings me on in the 80th minute,” before he and his teammates began laughing.
Isco’s remarks have only heightened expectations he could move away from the Spanish capital either in the January window or next summer.
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