"Apart from a break of six months, I have been coaching continuously since 1995," the Italian told La Stampa newspaper. "I will stop for a year and take a look around, take a break, study how my peers work.
"I'm not in a hurry, nor do I have the need," added the former Italy international, who will be 52 on Friday.
Ancelotti led Chelsea to the Premier League and FA Cup double last year, in his first season at the club, but was sacked last month after the London club failed to win a trophy this season.
He said recent events had not put him off England and he would stay in London "and sort out my life".
He denied he had received any approach from his former club AS Roma, or from Arsenal and added: "I have not been contacted by any English club."
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.