PSG sealed their place in the last eight of Europe's elite tournament for the first time in 18 years after a 1-1 draw with Valencia in the Parc des Princes gave them a 3-2 aggregate win.
Ancelotti admitted it was a big win for the club, but played down expectations that they could challenge for the overall title.
"It's a very important result for everyone at the club because after 18 years to reach the quarter-final it's very important," said Ancelotti.
"It will be very difficult to win [the UEFA Champions League]; our aim is to do our best.
"At the start of the Champions League everyone said that the team we didn't know what we are going to do in the Champions League.
"Until now we did really well because we won the group, we won in the last 16 and I hope to do our best in the quarter-final."
Jonas' goal had given Valencia the lead before Ezequiel Lavezzi equalised and Ancelotti acknowledged his side had been too comfortable before falling behind.
He added: "I think the goal we conceded woke us up. We were under control too much in the first half, the second half was better."
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