The European champions beat Malaga 2-1 at La Rosaleda on Saturday to extend their winning run to 16 matches in all competitions, creating a new club record in the process.
Real had twice before won 15 in a row before being halted and, although Isco's late red card was followed by a stoppage-time goal by Roque Santa Cruz, the visitors did enough to earn victory.
The Ballon d'Or frontrunner flicked on a lofted ball for Gareth Bale and the Welsh winger slammed home, the goal ultimately proving enough to clinch the record which has delighted Ancelotti.
He told reporters: "I'm happy. It feels like a dream. We're very happy about the run. I hope it continues.
"I'll get the credit for this, but I've been lucky to coach a fantastic team with fantastic players for a fantastic club.
"My admiration goes to the players, but this is only a small part of a long season.
"We must keep on working hard because in football, whatever happened is in the past. We all know this."
