Everton announced the arrival of Ancelotti on Saturday ahead of their lunchtime Premier League match against Arsenal.
The 60-year-old will be in the stands at Goodison Park with the club's owner Farhad Moshiri and chairman Bill Kenwright.
Ancelotti replaces Marco Silva, who was sacked by Everton days before the Toffees’ game against Chelsea earlier this month.
The Italian has an impressive record in the Premier League during his time at West London, guiding Chelsea to their fourth top flight title and the FA Cup.
Ancelotti, who was recently sacked by Napoli despite qualifying them to the next round of the Champions League, expressed his delight after signing for the Merseyside based club.
"There is a clear vision from the owner and the board to deliver success and trophies,” the Italian coach said.
“That is something that appeals to me as a manager and I am thrilled at the prospect of being able to work with everybody at the club to help make that vision a reality.”
He added: “I have seen from the performances in the last two weeks that the players are capable of so much.”
“The work Duncan has done is a great credit to him. Strong organisation, strong discipline and the right motivation are some of the key ingredients in football and I’m pleased that he will be part of my backroom team moving forward.”
