Kean joined the French champions on a season-long loan deal on transfer deadline day after failing to impress in his debut season in England.
The 20-year-old Italian international moved to Everton from Juventus for £27m on a five-year contract last summer but only scored two goals in 37 appearances across all competitions.
Kean has however found his scoring boots once again since making the switch to France, scoring four goals in four games in his short spell there.
Everton’s agreement with PSG does not include an option for Thomas Tuchel’s side to make Kean’s move permanent at the end of the season, and Ancelotti insists the Toffees will abide by the terms of the deal.
“I didn't speak with him but I saw him score four goals in two games," Ancelotti said of Kean ahead of Everton’s trip to Newcastle United this weekend.
"This is good. This is good for Paris Saint Germain, for him and for us also."
Asked if he expected Kean to return to Everton after his loan was finished, the former Real Madrid and AC Milan boss answered: “This is what the contract says.
"We decided to allow him to go on loan, to play more, to have more opportunity to play more. He is showing his quality and he will be back next season.”
