The Reds have already played five friendlies this summer and have three more to come before they take on Watford on the opening day of their Premier League season.
The Audi Cup also includes Atletico Madrid and Napoli who also play on Tuesday with the two winners and the two losers going on to face each other on Wednesday.
When is Liverpool vs Bayern Munich?
The match is on Wednesday August 1 with kick-off at 7.30pm.
Meanwhile, Ancelotti welcomed Germany internationals Niklas Sule and Sebastian Rudy to the club, saying he expects a “fantastic season” from the new signings.
“We are sure that they are going to improve our squad and increase competition in defence and midfield,” he said.
“They are both young players with a lot of quality and self-confidence. They showed their exemplary attitude last season with Hoffenheim. I am sure they are going to have a fantastic season.
“Sule is a fantastic central defender. We now have four excellent central defenders and he will fight with the others for his place. We are very well catered for in this position but the best will play — it doesn’t matter how old you are.”
Sule, 22, is looking forward to competing for a place in Bayern’s central defence with World Cup winners Mats Hummels and Boateng, as well as Spain international Javi Martinez.
“There’s nothing better for me as a young player than learning from the best in the world,” Sule said at his introduction as a Bayern player. “It’s a massive task for me to put pressure on the lads, to soak up as much as I can from them and try to get some game time.”
Rudy, 27, has also played at right-back for Germany, but impressed in defensive midfield in the successful Confederations Cup campaign this summer.
He faces competition at Bayern from Arturo Vidal, Renato Sanches and Corentin Tolisso but says he will fight for his place.
“I will not shy away from the competition and want to prove the critics wrong,” he said. “You expect to play, otherwise you wouldn’t make the move.
“I want to continue to improve, develop, grow as a person and push myself to the limit. I think we have good competition for places here and we will all be pushing each other to perform at our best. I’ll try and play my part in that.”
Despite their late arrival back in training following their exertions in Russia, Ancelotti said Sule and Rudy duo could feature in the Audi Cup on Tuesday and Wednesday, alongside fellow Confederations Cup participants Arturo Vidal and Joshua Kimmich, who are also back following their holidays.