The Paris Saint-Germain manager has not been officially appointed as Jose Mourinho's successor at the Santiago Bernabeu, but a deal is understood to be close, and he has already identified his primary transfer targets when he completes his move to Spain.
Marco Verratti - who Ancelotti currently coaches at Parc des Princes - is also high on the Italian's list of priorities, after an impressive campaign for the Ligue 1 champions in 2012/13, but it's Vidal who is the first-choice option.
The 26-year-old midfielder was one of the star performers as Juventus cruised to the Serie 'A' title last season, prompting a deluge of interest in his services this summer.
Gunners boss Arsene Wenger is keen to lure the Chile international to the Emirates Stadium while David Moyes has also been mooted as an admirer as he looks to stamp his own authority on the Manchester United squad since succeeding Sir Alex Ferguson at Old Trafford.
News of Ancelotti and Real Madrid's alleged interest might force the hand of Arsenal and Manchester United, if they are serious about luring Vidal to the Premier League ahead of the 2013/14 campaign.