The record 15-time winners and current holders face German side Stuttgart on Tuesday at the Santiago Bernabeu and are boosted by the return of England international Bellingham and France's Tchouameni.
Defender Eder Militao did not train on Monday but Ancelotti said the Brazilian would also be ready for the clash.
"Bellingham is good, just as Tchouameni is good, and Militao too for tomorrow, who didn't train today because he needed one more day of recovery," said Ancelotti.
"Two important players are back, but we also have the bad luck to have lost another important player (Brahim Diaz)."
Bellingham, who began the season in a deeper midfield role than in the previous campaign, suffered a calf injury in August which forced him out of four LaLiga matches.
"(His return) is fantastic news, for what he brings in a football sense, as well as beyond that," said Dani Carvajal.
"To see him in the squad again is great, we count on him."
The midfielder was crucial last season on the way to the Wembley final where Madrid beat his former side Borussia Dortmund.
Ancelotti said his team was just as hungry to win the competition this year.
"We're as (excited) as always, what this competition brings us, where this club has been such a protagonist for so long, and keeps being one," added Ancelotti.
"The Champions League is special for Real Madrid, we will try to compete until the end."
