Former France international stepped down last week after Real suffered their first trophy-less season in 11 years.
Carlo Ancelotti has returned to Real Madrid for a second spell as coach, rejoining the Spanish giants from the English side Everton.
The Italian, who was previously in charge of the Madrid-based club between 2013 and 2015, has agreed to a three-year deal at the Bernabeu. He replaces Zinedine Zidane, who left Real last week after the team’s first trophyless season in more than 10 years.
“Carlo Ancelotti will be the new first team coach for the next three seasons,” a brief Real Madrid statement read.
He will sign his contract and be presented to the media on Wednesday.
Ancelotti had been in charge at Goodison Park since December 2019, leading Everton to a 10th place finish in the Premier League last season.
The 61-year-old, who has one of the most decorated CVs in world football, won the Champions League with Real in 2014, helping the Spaniards to their fabled “Decima” (10th) European crown, before being sacked 12 months later.
He is one of the three coaches – along with former Liverpool manager Bob Paisley and Zidane – to have won the European Cup or Champions League on three occasions, having also led AC Milan to glory in 2003 and 2007.
Ancelotti has also coached Juventus, Chelsea, Paris St Germain and Bayern Munich in his 26-year managerial career.
Meanwhile, Zidane recently took aim at his former club and team President Florentino Perez, refuting claims that he was tired of coaching and citing a lack of trust for his decision to end his second stint at the helm of the club.
In an open letter published on Monday in the Diario AS newspaper, Zidane said the first time he left as coach in 2018 was because he felt the team needed a new approach to stay at the highest level after enjoying so much success.
“Right now, things are different … I’m leaving because I feel the club no longer has the faith in me I need, nor the support to build something in the medium or long term,” Zidane wrote, with the 48-year-old adding he deserved more recognition from the club for his work.
“I’m leaving, but I’m not abandoning ship and I’m not tired of coaching,” Zidane wrote.