Real Madrid defeated Barcelona 4-1 on aggregate to reach the final of the Copa del Rey.
Real Madrid will face Osasuna in the Copa del Rey final on May 6, after Osasuna stunned Athletic Club in the other semi-final clash.
Ancelotti had joked with their manager Jagoba Arrasate, back in February, that they would meet in the Copa del Rey final.
Ancelotti had told Osasuna manager Jagoba Arrasate that the pair would be meeting again in their league meeting on the 18th of February.
Real Madrid beat Osasuna 2-0 at El Sadar in February, but Osasuna played out a 1-1 draw at the Santiago Bernabeu early in the season.
Pleased by their tough performance, Ancelotti backed them to reach the Copa del Rey final.
Speaking to Diario AS after the Clasico win, Ancelotti admitted it was a joke.
He said: “With Jagoba I made a joke, but it is a reality. We are very happy to play the final, I imagine he is too. It will be a very nice atmosphere.”
Real Madrid have won the Copa del Rey 19 times, and have reached the final 39 times, while Osasuna will be playing in just their second ever Copa del Rey final.