The Welsh international endured a turbulent relationship with former Los Blancos manager Zinedine Zidane with the Frenchman deeming him as surplus to requirements in the Spanish capital in 2020.
Zidane sanctioned a loan move to Bale’s former side Tottenham last season with the 31-year-old delighted at the chance to revive his career back in North London.
However, the picture in Madrid has changed following Zidane’s departure, and Bale is expected return to complete the final year of his contract.
It was Ancelotti who brought Bale to Madrid, in a world record swoop from Spurs in 2013, with the pair winning the 2014 Champions League together and Bale is eager to be reunited with the Italian.
“I know that Carlo Ancelotti is a great coach,” Bale told an interview with Sky Sports, as per reports from Marca.
“I get along very well with him, we had a great time in the past.
“He’s returned to Real Madrid and he’s a great guy. We had a great time together at Real Madrid and I’m sure he’s going to be amazing in command.
“I spoke to him when we played Everton and we hugged and had a little chat that was nice.
“But I’m still in the same boat and I haven’t thought too much about it.
“I’m focused on our preparation now and what’s going to happen at the European Championship. We’ll think about it later.”
Bale is expected to arrive back in Madrid in mid-July, as part of Ancelotti’s pre-season training camp, after Euro 2020 duty with Wales and delayed break after the tournament.