 Ancelotti has enjoyed a good start to his time as Chelsea manager
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Chelsea manager Carlo Ancelotti says he would prefer to win the Champions League over the Premier League.
The 50-year-old Italian guided AC Milan to victories in 2003 and 2007 as manager and won it twice as a player with the club in 1989 and 1990.
"I know in England it is important to win the Premier League. I prefer the Champions League," he told BBC Sport.
"It's the most important competition in Italy and most important in the world. If possible we'll try to win both."
The Blues were beaten on penalties by Manchester United in last year's final and have suffered four semi-final defeats in the last six years.
They have, however, won two Premier League titles, in 2005 and 2006.
Ancelotti did stress though that winning the Champions League is not the main aim of Chelsea owner Roman Abramovich.
"When I joined, he did not say to me that I had to win the Champions League, but he did say he would like to see his time arrive at the end of the season in all competitions," Ancelotti told BBC Radio's 5 live Sportsweek.
And he believes he has a strong enough squad to cope without delving into the transfer market in the January window.
"It is not necessary to have new players because all the players in the squad are in a good condition," he added.
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BBC Sport's Peter Scrivener
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"If we maintain this until January, we do not need to sign anyone.
"We have started the season well. This is a good organisation, with good, professional players and a good atmosphere.
"I would like to stay until Abramovich is happy with my job. I like to stay in England because there is a good mentality for football here."
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