Khedira faces a battle to play again this season and could miss the FIFA World Cup after injuring cruciate ligaments in his right knee during Germany's friendly with Italy on Friday.
However, although Ancelotti acknowledges the midfielder's absence comes as a blow, he feels there is sufficient cover in the Real squad.
"Khedira is a very important player for the team's balance. We need to find another solution," the Italian told reporters at a book launch on Monday.
"I'm sure we will be able to manage this absence, which will be significant for us.
"We have several solutions in midfield. We can select a player with similar characteristics, or change the system, because we have to play a system the players are comfortable with.
"We will not consider signing someone. I need to think about (the best course of action) because there are players we have who have not played very many minutes."
Another Real midfielder, Xabi Alonso, suffered an injury representing Spain against Equatorial Guinea.
"For Xabi, it is a knock," Ancelotti added.
"Xabi's knock was dangerous. It was a very aggressive game he was in to be called a friendly."
