Benzema remains a key member of Real Madrid's squad after spearheading the attack alongside Cristiano Ronaldo for over nine years, but now his former boss wants to link up with the 30-year-old who experienced one of his most prolific seasons at the club under his tutelage.
According to AS, the Napoli boss is eager to add the potent goal scorer to his ranks at Napoli this summer as the club seek to make a successful run into the Champions League's latter stages next season.
The report explains that Ancelotti has a close relationship with Benzema following his two-year stint with Real Madrid, however the Frenchman's wage demands of €8.5m-per-year, in addition to his contract at the Bernabeu running until 2021, have complicated any potential approach.
The Spanish giants maintain that Benzema is still an integral member of the squad, and as such would not be willing to part with the striker, unless an offer in the region of €50m was put on the table.
Napoli, whilst eager to add his experience to the squad, is wary of parting with such a fee for Benzema as he moves closer to turning 31.
The Italian outfit are known to invest in young and upcoming players who can generate a profit further down the line, and Benzema's value will only depreciate as the years goes by.
Napoli are said to be hopeful of lowering Real's asking price, as they remain eager to fulfil Ancelotti's requests this summer.
Benzema featured 47 times for Real Madrid last season, where he netted 12 goals and set up 11 more.