The 25-year-old Argentine striker has been heavily linked with a move away from the La Liga giants, with Arsenal, Napoli and Chelsea all reportedly interested in his services.
Reports suggested Higuain was close to a £30million switch to the Serie A side but the forward had stalled and wanted time to consider his options.
Speaking after watching Real Madrid thrash Bournemouth 6-0 at Dean Court, with Higuain netting minutes after coming on at half-time, Ancelotti said no deal had been done.
"Not true, I don't have any news about this," Ancelotti said.
"I think that now we have to speak about Higuain as a Real Madrid player.
"He is a fantastic player and a fantastic striker who took one minute to score tonight.
"I spoke to him this week. He is a Real Madrid player and until we have news we have to consider him as a Real Madrid player and I would like him to stay with us.
"He is very important to us and nothing else, it is not my business to judge the price of a player."
Cristiano Ronaldo netted a brace and Sami Khedira, Angel Di Maria and Casemiro also struck to go with Higuain's goal.
Ronaldo is reportedly set to earn a new contract and Ancelotti talked up the 28-year-old Portuguese as his best player, insisting he would remain at Real.
"I think Ronaldo is the most important player in this team because he is the player with the best quality," Ancelotti said.
"I think we will help him every time to do his best because if he does that every time we have a great opportunity for this season.
"His future is at Real Madrid, there is no question about this."
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