The World Player of the Year took a knock to the ankle near the end of Wednesday's Champions League Group B victory at Ludogorets when he was caught by midfielder Anicet Abel.
The Portugal captain has been on lethal form this season and has scored 10 goals in five La Liga appearances and two in two Champions League games.
"Cristiano is in very good condition," Ancelotti told a news conference on Saturday. "He has completely recovered and is in perfect shape as always."
Real's Wales winger Gareth Bale, who had been working in the gym following the Ludogorets game, also took full part in Saturday's training session, Real said on their website (www.realmadrid.com).
The European champions are fifth in La Liga after six matches, four points behind early leaders Barcelona, who have 16 points and play at Rayo Vallecano later on Saturday (17:00 p.m. BST).
Champions Atletico Madrid meet Valencia away later on Saturday (1400), with both sides on 14 points in joint second.
(Writing by Iain Rogers, editing by Ed Osmond)
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