Endrick arrived in the Spanish capital from Palmeiras in July in a deal reportedly worth €60million, signing a six-year deal with the 15-time Champions League winners.
The 17-year-old has scored two goals in nine appearances across all competitions this season, though he has only featured for 107 minutes across those games.
But Ancelotti has shown his faith in young players during his tenure with Los Blancos, with the likes of Jude Bellingham, Vinicius Junior and Rodrygo all developing under his stewardship.
Cafu, who made 119 appearances for Milan under Ancelotti, believes Endrick has the right man to guide him through the early stages of his promising career.
"Ancelotti is a great coach, and he is really good at developing young players," Cafu told Stats Perform at Festival dello Sport in Trento, Italy.
"He's really good at managing them, he understands them and knows when it's the right time for them to play or when they need to stay on the bench.
"For someone like him he will be like a father who will give the right advice."
It was a sentiment echoed by Cafu's former Milan team-mate Dida, who hopes he can become an important player for Brazil ahead of the 2026 World Cup.
"We all know Carlo [Ancelotti], he knows how to manage all the champions," Dida added.
"He knows how to make these kids grow even if they are already in an important team.
"And that is certainly something very nice for [Endrick], we hope he does well because he is a Brazilian who will surely do well with the [Brazil] national team.
"I hope that our national team always works with this type of players and we hope that Carlo, as always, does his job."
Endrick was picked for the Brazil national team for the first time in November 2023, becoming the youngest male player to secure a senior call-up since Ronaldo Nazario in 1994.
He netted his first goal for his national side in a 1-0 win over England at Wembley back in March this year, scoring again three days later in an entertaining draw with Spain.
Endrick was also part of Dorival Junior's squad for the Copa America.
After three substitute appearances in the group stage, he made his first start for Brazil, replacing Vinícius who was suspended for their quarter-final against Uruguay.
However, he struggled during the contest, completing just one pass during the match, from kick-off, as they crashed out on penalties to Marcelo Bielsa's side.
Though showing only glimpses of what he can become, Cafu believes the sky is the limit for Endrick.
"Endrick can become a great player. He's young and has enormous potential and can grow a lot," Cafu concluded. "With Ancelotti as a manager, I'm sure he can become a top player."
Cafu and Dida were part of the Brazil squad that won the World Cup in 2002.
Vinicius was unable to inspire Brazil to glory at this year's Copa America, missing their quarter-final tie against Uruguay due to suspension, but has been in fine form for Real Madrid over the past 12 months.
And with neither Lionel Messi nor Cristiano Ronaldo involved in the voting, there will be a new winner of the Ballon d'Or for the first time since Luka Modric collected the 2018 award.
Vinicius is among the favourites, and Cafu feels the award should go to the Madrid star.
"Yes, he deserves to win it, he’s had a great season," Cafu told Stats Perform at Festival dello Sport in Trento, Italy.
"The numbers he had last season were incredible. He deserves it for what he's done and what he will do in the future."
It was a sentiment echoed by Cafu's former national team-mate Dida.
He told Stats Perform: "Vinicius is a great kid, a great player, a top player. He did very well last year, he scored goals, he gave assists, that's why.
"If he wins, it's because he deserves to win it because he did very well, we hope he manages to win this Ballon d'Or."
Vinicius has directly contributed to 42 goals for Madrid in all competitions since the start of the 2023-24 season, scoring 28 times and laying on 14 assists.
Robert Lewandowski is the only player to have played for a Spanish club across all of that time to have registered more direct goal contributions (49 - 31 goals, 18 assists).
No player in Europe's top five leagues comes close to matching Vinicius for attempted dribbles (366), though the 24-year-old ranks seventh for dribbles completed (141).
The sporting world mourned the death of a legendary figure after Maradona died on November 25 at the age of 60.
He won 91 caps for Argentina between 1977 and 1994 - including leading his country to World Cup glory in 1986 - and will forever be an icon at Napoli, having won the Serie A title twice while in Italy.
Cafu may have represented Brazil - Argentina's rivals - but is full of admiration for Maradona, whom he says sits on the same level as Pele when it comes to discussing the greatest of all time.
"He was one of the best ever, without any doubt," Cafu told Stats Perform News courtesy of Nissan.
"There are only two best ever: Dieguito, as I called him, and Pele.
"Football lost the magic of touching the ball. Dieguito cared for the football like you care for a child. He really joked with the football and the sport.
"For us, fans and players, to watch him play was unbelievable, the best thing in the world. I remember a set-piece he took inside the box [against Juventus], he just caressed the ball and laid it in the goal.
"Now our world is mourning not because we lost a player, but because we lost a football genius."
Pele himself described Maradona as a "true legend" in a heartfelt Instagram post following the news of his friend's passing last month.
"Many people loved to compare us all their lives. You were a genius that enchanted the world. A magician with the ball at his feet. A true legend. But above all that, for me, you will always be a great friend, with an even bigger heart," Pele wrote to accompany a picture of the pair.
"Today, I know that the world would be much better if we could compare each other less and start admiring each other more. So, I want to say that you are incomparable."
Napoli, meanwhile, now play at the Stadio Diego Armando Maradona, the name of the ground having been changed in honour of their former player.
Tite's side breezed through World Cup qualifying as they topped the South American group after going unbeaten through their 17 games, winning 14 and drawing three.
The world's number one ranked side and five-time winners have been labelled by many as favourites to lift the World Cup come December.
Brazil, who boast the likes of Liverpool pair Alisson and Fabinho, along with Paris Saint-Germain duo Neymar and Marquinhos, have been drawn into a group with Serbia, Switzerland and Cameroon.
However, the Selecao have not appeared in a World Cup final since 2002, when they won the competition, with the last four editions seeing European teams triumph.
Cafu – the only man to appear in three consecutive finals, winning in 1994, losing in 1998 and captaining in the 2002 win – believes it is time for Brazil to claim a sixth World Cup.
"Every competition that Brazil steps into there is the pressure to win it. They are a huge country in the world with a huge history," Cafu told BBC Sport.
"The pressure to win is always there in any game, not just the World Cup. We have a very good generation of Brazilian footballers coming through so the expectation is there as usual.
"It is about time we won, it is clear if we don't win the World Cup it will be a failure. We all have the expectations and hopes that we can do it."
Gareth Southgate's England must negotiate a group with Iran, the United States and one of either Wales, Scotland or Ukraine.
England are on the opposite side of the draw to Brazil, meaning the two sides cannot meet before the semi-final stage.
Cafu, who is his country's most-capped player after making 142 appearances, suggested a meeting between the two nations would be a dream for Brazilian fans.
"For the Brazilian people it would be considered a dream final because of the historical weight of the two nations in football," he said.
"This match would carry huge emotion and it would be beautiful not only for the fans of England but also for football in general."
The French publication presented its all-time dream team on Monday, with Juventus superstar Ronaldo named alongside Barcelona's Lionel Messi, Pele and Diego Maradona – who died last month.
Brazil great Ronaldo, former Milan captain Paolo Maldini, Xavi, Bayern Munich legend Franz Beckenbauer, Lothar Matthaus, Cafu and goalkeeper Lev Yashin completed the XI.
Reacting to his inclusion, five-time Ballon d'Or winner Ronaldo tweeted: "I'm very honoured to be part of France Football's All Time 11."
"What an amazing Dream Team... They all deserve my respect and admiration and I'm obviously proud to be amongst such extraordinary players. Thank you!"
Cristiano Ronaldo – Real Madrid's record goalscorer – has won five Champions League titles, three Premier League trophies, Euro 2016 glory, two Serie A crowns and as many LaLiga triumphs to go with numerous other silverware.
Ronaldo celebrated his 100th Juventus appearance with a brace in Sunday's 3-1 Serie A win over Genoa.
Not only was Ronaldo making his 100th Juve appearance, he also became the first player to reach 400 wins across Europe's top five leagues this century.
Additionally, Ronaldo – who has netted 77 times since joining Juve in 2018 – reached 31 goals for the calendar year, making him the third Bianconeri player to reach this milestone in the top flight, and the first since Omar Sivori in 1961.
Serie A holders Juve face Atalanta on Wednesday, with the 35-year-old Ronaldo looking to add to his 10 league goals this term.
