Meanwhile, Ancelotti played down speculation linking Chelsea with a move for Tottenham midfielder Luka Modric.
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Luka Modric's angled drive doubled the lead, but Matthew Etherington's superb solo goal narrowed the deficit.
Facing 10 men, Real Madrid coach Jose Mourinho doubled down on attack and sent on the Croatian playmaker Luka Modric.
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Luka Modric, so influential in recent matches under Redknapp had one weaving run but his shot was way off target.
O'Hara was similarly wayward when he skewed his effort after Luka Modric had sent a low free-kick into the box.
Meanwhile, Arsenal's north London rivals Tottenham have suffered a setback with a serious injury to Croatia playmaker Luka Modric.
Tottenham looked to make their man advantage count and almost immediately went further ahead, but Luka Modric shot straight at Jaaskelainen.
Despite picking up three points at Ewood Park, Spurs suffered the last-minute loss of key midfielders Steven Pienaar and Luka Modric.
"X-rays have determined that Luka Modric sustained a fracture to his right fibula, " said a statement on the official Spurs Web site.
Luka Modric's attempted pass to Robbie Keane came to him off Sebastien Bassong and he found the net at the second attempt.
Last year Arsenal striker Eduardo broke his leg against Birmingham and on Saturday Tottenham's Croatian playmaker Luka Modric suffered the same fate.
They were almost caught out, though, when Spurs broke and Luka Modric crossed for Roman Pavlyuchenko, who should have got his header on target.
However, midfielder Luka Modric and defender Marcelo are in doubt for the first leg of the semifinal after both were taken off with injuries.
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The visitors had early moments of promise but Gareth Bale chested down Luka Modric's sublime crossfield pass to volley Spurs ahead from 10 yards.
Mourinho also brought on striker Karim Benzema and Mesut Ozil for Higuain and Luka Modric, but Real's best chance was ruled out for offside.
Luka Modric spun clear down the right and crossed to the far post, where Ivan Rakitic's firm header was brilliantly parried by the alert keeper.
The goal briefly unsettled Spurs but they were given a lifeline when a Luka Modric pass wide struck Lampard and played Bent through on goal.
The Frenchman, who took public transport to the match, played the first half, handing his number 14 shirt to Spurs midfielder Luka Modric at the whistle.
Redknapp had also brought on Luka Modric for his first game since he broke his leg back in August but still opportunities were hard to come by.
Ramos has also spent big on Luka Modric, David Bentley, Roman Pavlyuchenko and Vedran Corluka while losing the services of strike duo Robbie Keane and Dimitar Berbatov.
Tottenham will be hoping the 25 year old can replace Luka Modric, after the creative Croatian midfielder completed his moved from Spurs to Real Madrid earlier in the week.
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The move almost paid dividends when, shortly after Luka Modric had drilled a shot inches wide, Lennon cut in from the left and fizzed a low strike against the far post.
Campbell wriggled clear of the attentions of Sebastien Bassong and Assou-Ekotto and burst into the box, before going over an appalling forward's challenge from Luka Modric, who simply hung out a leg.
The later introduction of top scorer Cristiano Ronaldo led to Real's 58th-minute equalizer as the Portugal forward won a free-kick which Luka Modric delivered perfectly for striker Gonzalo Higuain to head home.
Tottenham had the better of the early play at Upton Park and Croatian playmaker Luka Modric set up Ledley King for a chance which hit the crossbar on the half hour mark.
Van der Vaart, back after injury, was the catalyst as he climaxed a sweeping move from the visitors involving Luka Modric and Alan Hutton to give them the lead after 23 minutes.
Luka Modric, signed last year from English club Tottenham Hotspur, then spurned a glorious chance to put Real ahead before Valencia's Brazilian striker Jonas twice went close in a matter of minutes.
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Suddenly, there was desperation in the air for Spurs and they were almost caught on the break by John Utaka, but he wasted the final pass and Luka Modric was able to recover.
"Luka Modric suffered a fracture to his fibula on Saturday which does not require surgery and simply requires the wearing of an aircast protective boot, " read a statement on the Tottenham club website.
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