The 46-year-old, who won three successive Serie A titles during his time in charge of Juventus, will stand down as Italy coach after Euro 2016.
Chelsea have had an affinity with Italian managers, having hired Gianluca Vialli, Claudio Ranieri, Roberto Di Matteo and Ancelotti over the past 18 years.
Ancelotti, who won the Premier League and FA Cup during his two seasons in charge of the west London outfit, is well placed to judge Conte.
And Ancelotti has lavished praise on his countryman.
“Conte is a hard worker: really serious, really professional and always focused on his job,” Ancelotti told FourFourTwo .
“Chelsea are getting a top manager who will look at all the little details.
“Coming to England from Italy, he will find a different world: less pressure, no violence, a great atmosphere, full stadiums – just totally different from Italy at this moment.
“He can definitely be a success at Chelsea.”
Ancelotti meanwhile will be hoping to build on the success of Pep Guardiola with Bayern Munich next season aiming to win the Champions league as well.
