The Spaniard netted a hat-trick against his former club as Real Madrid registered an emphatic 6-1 win in La Liga.
Madrid utterly dominated the game as Mallorca failed to cope with the unstoppable attack of the home side.
Karim Benzema, who has been in sublime touch this season, added another brace to his name while outcast Isco also found the nets to gain some confidence.
There were reports of Asensio being unhappy over the lack of game time under Ancelotti prior to the game.
However, the Italian gaffer handed the Spaniard his first start of the season and he made full use of the opportunity.
The 25-year-old netted his first-ever hat-trick in the Real Madrid shirt and it also came against his former club Mallorca.
Besides being productive in front of goal, Asensio also showed his playmaking ability by creating 2 key chances for Los Blancos.
It was the kind performance the Spaniard had been dreaming of all along and he would look to build on this one for the remainder of the season.
Asensio’s performance is also a statement of intent as he was behind the likes of Eden Hazard and Hazard in the pecking order prior to the game.
Nonetheless, Ancelotti would be overwhelmed with Asensio coming into the fore as Los Blancos now boasts one of the dangerous attacking units in Europe.
The Spanish capital club are soaring high this season as they are currently topping the La Liga table with 16 points after 6 games.