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The Real Madrid coach will see out his contract with the Spanish giants before assuming the Selecao hot seat in the summer of 2024.
Real Madrid manager Carlo Ancelotti will take over as Brazil's coach for the Copa America in the United States next summer.
Brazilian Football Confederation president Ednaldo Rodrigues confirmed the news while appointing an interim coach for the next 12 months in Fluminense boss Fernando Diniz.
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“His (Diniz) game plan is almost similar to that of the coach that will take over at Copa America, Ancelotti,” Rodrigues said.
“We don't call him an interim coach of the national team. He will come and make the transition in Brazil for Ancelotti.”
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No terms have been announced for Ancelotti's takeover, nor has anything been said by Madrid.
Ancelotti has one more season on his contract with the Spanish team and the Copa America starts on June 20, 2024, in the United States.
The Italian has never coached at international level but is one of the most decorated coaches in the game.
He has won four Champions League titles (two apiece with Real Madrid and AC Milan) as well as league titles in Italy (AC Milan), France (Paris Saint-Germain), England (Chelsea), Spain (Real Madrid) and Germany with (Bayern Munich).
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Meanwhile, Diniz will oversee Brazil's 2026 World Cup qualifiers from September.
“It's a dream for anyone,” Diniz said in a video posted on the website of Brazilian broadcaster Globo.
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“It's an honour and a great pride to serve the national team. It was a call-up, especially the way it happened, in a joint effort between CBF and Fluminense. I'm convinced we have everything to take this forward and make it work.”
Diniz will coach Brazil for key World Cup qualifiers, including a home match against defending champions Argentina in November.
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Brazil's first match in World Cup qualifiers will be at home to Bolivia on September 7.
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