Ancelotti confirmed he expected to learn his fate after Sunday's Barclays Premier League game at Everton following the disjointed 2-2 draw with Newcastle.
The result proved good enough to secure second place - barring a huge goal difference swing - after Arsenal later lost to Aston Villa.
One last look around? Carlo Ancelotti after Chelsea's 2-2 draw against Newcastle at Stamford Bridge
But that will not prevent this being the Blues' worst campaign since Roman Abramovich bought the club eight years ago and Ancelotti appears certain to be sacked.
'In my opinion, sometimes I did a good job, sometimes I could do better,' said the Italian, who led Chelsea to their first ever double in his first season at the club.
'It is the club that has to take a decision and judge my job. If my job was good, I will stay. If they think it was not good, I will have to go.'
Ancelotti took part in the customary lap of honour at Stamford Bridge and waved to supporters as they chanted 'Carlo, Carlo'.
Rising to the challenge: Brazilian defender Alex (2nd left) heads Chelsea's second against Newcastle
But, despite looking emotional as he walked around the pitch, he was adamant he had not been waving goodbye and even claimed he felt he could yet see out the final year of his contract.
'I don't know what will happen,' he said. 'We have to wait just one week. A week is not a long period.'
The Italian's team selection against Newcastle certainly suggested he was planning for next season as he took an axe to his side.
But despite a bright start which saw Branislav Ivanovic score inside two minutes, the experiment failed.
Jonas Gutierrez fortuitously cancelled out Ivanovic's opener and Steven Taylor netted at the death after Alex looked to have grabbed the winner.
Late show: Steven Taylor (left) denies Chelsea the win with Newcastle's eaqualiser
Ancelotti said: 'We've conceded in the last minute a lot of times this season. We've lost a lot of points that way. When you concede a lot of goals in the last minute, something is wrong.'
Newcastle boss Alan Pardew was delighted with his side's never-say-die attitude and challenged them to end their season on a high by securing a top-10 finish.
Sunday's final game of the season sees them host West Brom, who they finished above in the race for promotion last term but who they now lie a point behind.
Pardew said: 'If we beat them, we jump above them and have a possibility of a top-10 finish.
Family affair: Chelsea players and their kids on the Stamford Bridge pitch on Sunday
'That would be outstanding because we lost a very big player in Andy Carroll, and Hatem Ben Arfa.
'You have to admire the squad and the staff. We're very resilient.'
Pardew hopes to convince owner Mike Ashley to splash the cash this summer.
He added: 'A performance like that will give the owner belief as well, that we're doing things in the right way. If I was the owner, I'd think my investment was a bit more secure.'
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Explore more:People: Steven Taylor, Mike Ashley, Hatem Ben Arfa, Jonas Gutierrez, Roman Abramovich, Carlo Ancelotti Places: Newcastle