Real Madrid's Brazilian forward #07 Vinicius Junior (C) fights for the ball with Barcelona's Uruguayan defender #04 Ronald Araujo during the Spanish league football match between FC Barcelona and Real Madrid CF at the Estadi Olimpic Lluis Companys in Barcelona on October 28, 2023. Photo: AFP
Vinicius has been sidelined since suffering a left thigh injury while playing for Brazil in a World Cup qualifier against Colombia last month.
Camavinga has missed Real's last three matches with a knee problem.
"I think we'll have to wait until next year, but when we come back (from the winter break), they will both be ready to train," Ancelotti told a press conference ahead of Saturday's league match at Real Betis.
Madrid's first game in the new year is a home clash with Real Mallorca on January 3.
Vinicius has scored six goals in 13 appearances for the La Liga leaders this season.
Ancelotti also denied reports that star midfielder Jude Bellingham would need shoulder surgery.
"He has to take care of his shoulder with certain work, but he has no problem playing and is getting better and better," the Italian said.
"If it continued to deteriorate it's obvious that he'd need surgery, but for now that's been ruled out because he feels good and he's improving day by day."
Madrid can go three points clear at the top of La Liga with victory at Betis, ahead of second-placed Girona's visit to third-placed Barcelona on Sunday.
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