By FOX SPORTS Staff
With PSG holding a 2-1 lead over Valencia from the first leg of their last-16 Champions League tie played in Spain, the French giants know they are in pole position to secure qualification into the next stage of the competition.
Although PSG have not made it into the last eight of the competition for 18 years, Ancelotti believes his side can buck that trend and has challenged his expensively assembled side to fight for a positive result against Valencia in the second leg of the tie on Wednesday.
"The club has a great opportunity, as do the fans and the players - some of them could reach the quarter-finals for the first time," Ancelotti was quoted as saying by the official Champions League website.
"And for me also, it's very important. We need to forget the first leg and concentrate.
"Valencia have a very attractive style which I don't think they'll change, although they could be more defensive and attack on the break."
Ancelotti also acknowledged the difficulty of challenging for honours on multiple fronts; along with their participation in the Champions League, PSG are also chasing the French Ligue 1 title and have already qualified for the quarter-finals of the French Cup.
"It's difficult to be competitive in all competitions," Ancelotti added.
"Barcelona haven't managed to do it - they're out of the cup - nor have Real Madrid, who are off the pace in the league.
"We're coming to a very delicate part of the season, but I trust in our capabilities."
Meanwhile, Valencia coach Ernesto Valverde knows his side will have to pull off a delicate juggling act between attack and defence in order to get anything from their clash against PSG but remained bullish about his side's chances of progression in the competition.
"The players know we'll have to score some goals," Valverde said.
"We'll have to be quick to attack while also defending well, because they have good forwards. We need to find the right balance.
"Valencia didn't play particularly great in the first leg, despite our intentions, but that's also because of PSG.
"We're really going to do everything to qualify - nothing is written, so we believe in our chances. It's normal PSG are the favourites but we'll give 100% to stay in the competition."