He told the club's official website: "I am delighted because an award like this recognises the work done by the staff, the players, the fans and the town.
"This is recognition to all concerned and I value that. Obviously it is a personal accolade, but I know it is way beyond that because there is so much hard work that goes on here."
The Clarets boss stressed that there is still a long way to go and stated that he is not thinking about promotion just yet.
"That sort of talk is miles away," he told Sky Sports News. "We've had a nice start to the season. We've performed well and deserved the place we've got in the division but the challenge is to do that on a weekly basis. We're certainly not getting carried away at the minute.
"We're happy with our situation. We're doing some good things here. If you're going well people want to try and knock you off your perch. It's a tough division, it's topsy-turvy, I know the challenges of it."
Dyche praised striker Danny Ings following his call-up to England's Under-21s squad.
He added: "Danny deserves his call-up. He's been terrific in a group of players who have been superb.
"He's scored some great goals, he deserves his call-up. He's bright, he's very receptive to what we offer on the training pitch. As regards to the future, who knows. I believe in being open-minded. He's young, he's learning the game, he's progressing and getting better and better."