Terry, named as one of the players in FIFA/FIFPro's world XI this year, has been publicly supported by Ancelotti - and the former AC Milan coach sees the same qualities in his captain as two defenders he played with at the San Siro.
"Terry is like Franco Baresi and Paolo Maldini in personality, character and leadership,'' Ancelotti said. "I am very lucky to have this player as my captain.''
Ancelotti, who has guided his club to the top of the Premier League heading into the Christmas period, also sees similarities between Chelsea owner Roman Abramovich and Milan counterpart Silvio Berlusconi, who is the Prime Minister of Italy.
"Abramovich is like Berlusconi,'' Ancelotti said in the Evening Standard. "He has a passion for his club, he likes to speak about football, as does Berlusconi. Both of them like to watch football on television. After a game he comes to the dressing room.
"I never think that if I don't win games Roman will remove me. My aim is to do the best for this club, as I have done for other clubs.''