To draw a large quantity of similar objects you have to use one of the different matplotlib.collections classes — alas, their usage is a bit arcane, at least when it is my understanding that is involved...
Anyway, starting from the docs and this official example
I was able to put together the following code
$ cat ellipses.py
import numpy as np
import matplotlib.pyplot as plt
from matplotlib.collections import EllipseCollection
N = 10**5
# centres of ellipses — uniform distribution, -5<=x<5, -3<=y<3
xy = np.random.random((N,2))*np.array((5*2,3*2))-np.array((5,3))
# width, height of ellipses
w, h = np.random.random(N)/10, np.random.random(N)/10
# rotation angles, anticlockwise
a = np.random.random(N)*180-90
# we need an axes object for the correct scaling of the ellipses
fig, ax = plt.subplots()
# create the collection
ec = EllipseCollection(w, h, a,
units='x',
offsets=xy,
transOffset=ax.transData)
ax.add_collection(ec)
ax.autoscale(tight=True)
plt.savefig('el10^5.png')
I timed it on my almost low-end notebook
$ time python -c 'import numpy; import matplotlib.pyplot as p; f, a = p.subplots()'
real 0m0.697s
user 0m0.620s
sys 0m0.072s
$ time python ellipses.py
real 0m5.704s
user 0m5.616s
sys 0m0.080s
$
As you can see, when you discount the staging required for every plot, it takes about
5 seconds — and what is the result?

I think that the details about eccentricity and angle are lost in such a dense representation, but I don't know the specifics of your task and won't comment further.
matplotlib.collectionsClasses for the efficient drawing of large collections of objects that share most properties [...] — emphasis is mine