PSG signed the centre back from AC Milan for an estimated 47 million euros including add-ons in July, but the Brazilian had to recover from a thigh injury he suffered at the Olympic Games.
"Thiago is ready," Ancelotti told a news conference on Thursday on the eve of the Ligue 1 game against Toulouse, which Silva will miss.
"He is currently training apart. He will start working with the team on Saturday and we will count on him against Kiev."
PSG and Kiev have been drawn in Champions League Group A with FC Porto and Dinamo Zagreb.