The tie is finely balanced following the 1-1 draw at the Santiago Bernabeu when Kevin De Bruyne’s second half strike pulled City level after the opening goal from Vinicius Junior.
It’s the second successive year that the two sides face each other at this stage of the competition and when they met at the Etihad Stadium last season, City won a thriller 4-3.
But Ancelotti is predicting that the match will be similar to the first leg in Spain which he described as being between the best two sides in Europe.
“I think it will not be so different - some adjustments from Manchester City and Real Madrid,” the Italian said.
“I think to look back at the game there is something we can improve and also I think Manchester City. I don’t think it will be a different game.
“I think at this time they are the best teams in Europe and I’m sure it will be an exciting game as it was in the first leg.”
The Real boss confirmed that Eduardo Camavinga will be available after an injury scare in the weekend victory over Getafe.
And he says his players will need to show courage and personality as they look to secure a place in the final in Istanbul and defend the trophy they won last year.
“The match is unpredictable,” he added. “If you think you are the best team in the world it doesn’t means you are 100% going to win.
“It’s not just quality when you reach the semi-finals it’s also about the personality, character and mentality that you are able to show. It’s not just quality.
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“Bravery and courage are vital in games like this. Individual quality can’t show if you aren’t brave enough to try stuff.”
Ancelotti also dismissed suggestions that they would try to take the game to penalties, saying his side were coming to the Etihad to win.
“I think it would be a mistake to focus on penalties,” he said. “It might go to penalties but it’s difficult to prepare for penalties.
“Penalties in semi-finals and finals, it can go on the atmosphere at the time. We’re not thinking about penalties we want to go through in normal time - win before extra time and penalties.”
Luka Modric, meanwhile, believes that the tie is 50-50 and that the match will be decided by small margins.
The Croatian midfielder, who is looking to win the competition for a sixth time, said the Real squad arrived with the belief that they can reach another final.
“First of all it’s great to be in these types of games,” Modric said. “We feel so comfortable playing in this competition and in these kind of games. That’s why we have so many titles in this competition.
“We believe in our quality, we know the history of the club obliges you to give the maximum in every single game. These are the reasons why we are playing and feeling so good in the Champions League.
“We believe it’s 50-50. It will be decided on small details who gets to the final. It’s two great sides with great players and I think it will be decided in the odd action and great play.
“It’s about sticking together and hopefully that will be enough to take us through to another final.”
