In his first year at the Bernabeu, after succeeding Jose Mourinho, Ancelotti guided Madrid to an elusive 10th European Cup/Champions League title with a 4-1 final defeat of city rivals Atletico.
It marked the continuation of the Italian's glittering coaching career which has also seen him win domestic league titles in Italy (AC Milan), England (Chelsea) and France (Paris Saint-Germain).
He could land another in 2015, with Madrid two points clear of arch-rivals Barcelona at the top of La Liga. They are currently on a run of 17 consecutive victories in all competitions – a new club record.
Ancelotti will face competition for the award from Joachim Low, who led Germany to World Cup glory in the summer; Pep Guardiola, whose Bayern Munich side claimed a Bundesliga and DFB-Pokal double in his first year in Germany; and Antonio Conte for his achievement in guiding Juventus to a third successive Scudetto.
Ancelotti is expected to attend the glittering award ceremony at the luxurious Atlantis, The Palm Hotel in Dubai on December 29. His side face his former club Milan in the emirate the following day.
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