 Ancelotti has compared Terry to former AC Milan defender Paulo Maldini
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New Chelsea manager Carlo Ancelotti has insisted captain John Terry is not for sale at any price.
Manchester City had a bid for the 28-year-old England defender rejected last week and Ancelotti stated Terry is integral to his plans.
"John Terry is the symbol of this team, he will be captain," said the Italian.
"He wants to stay at Chelsea forever and we want to keep him forever. There is a question of Manchester City but for Terry there is no price."
It is the second time City have failed in their attempts to land the England skipper, having also had an approach turned down in late 2008.
Terry has played 405 games in 12 years at Stamford Bridge, scoring 35 goals in the process.
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In his first news conference since taking over as Blues boss, the former AC Milan coach added: "He said he wants to stay, there is no problem for him for us, the story continues - Chelsea and Terry.
"I like to have a captain like Terry, he is very close to Paulo Maldini for professionalism, for quality and he will be the best captain for Chelsea.
"I spoke with Terry a month ago when I came to the club and he said welcome. And after he went on holiday.
"I will speak with him because he is the captain and I want a good relationship with the captain."
A product of Chelsea's youth academy, Terry has captained the club to two Premier League titles, two FA Cup successes and two League Cup wins.
But success on the European stage has so far eluded Terry, although he came within a successful penalty of lifting the Champions League trophy against Manchester United in 2008.
The comparison between Terry and Maldini is huge praise as the Italian is regarded as one of the finest defenders of his era.
Maldini spent his entire career as a footballer at AC Milan, playing alongside and under Ancelotti, and has been linked with a coaching role at Stamford Bridge.
Ancelotti also confirmed that Chelsea have completed the signing of Yuri Zhirkov from CSKA Moscow but refused to be drawn on any other potential new signings.
The 50-year-old was reported to be interested in raiding his former club for 19-year-old Brazilian forward Pato and Italy midfielder Andrea Pirlo.
He also refused to confirm Deco and Ricardo Carvalho would be leaving West London, despite the Portuguese pair being heavily linked with a move to Inter Milan.
"Chelsea is a great team now, if we can improve now then it would be great for the club," he added. "Carvalho and Deco are Chelsea players.
"If in the future a player wants to go they have to speak with the club and we take the right decision for the player and for us."
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