England international Lennon, 30, joined the squad in training on Tuesday morning after completing his move from Everton.
"The obvious advantages are his experience, along with his pace," said Dyche.
“He's another rounded figure in the Premier League in our camp, because we haven't got that many.
“He can rub off on the players as well. Some do it by the way they go about their business and their understanding of the level.
“But he's also got 21 England caps and that adds in to his experience level, so it's a bit of everything.
"He's a different type of player in our camp because we want to keep shifting it forward.
"It's finding that nice balance between players who can develop with us and players who are more rounded, who can add to the group."
Meanwhile, Dyche admits he knows he is a wanted man in Burnley.
“Some of that is out of my hands, if someone wanted me they knew where I am," he said of the reason he inked new terms this week.
“The club I'm at definitely wanted me to stay, they made that absolutely clear. I've enjoyed what we've done and continue to do here, but the main thing is I've always had a real respect of the industry and take good advice from good people in the game.
“At 46, I'm not in a rush to say I'm this, that or the other, I'm going to say I'm learning. When I went into coaching, I thought I wanted to be in it for a long time.
“I'm think I'm doing that. Part of it is what tick boxes do you want as a youngish manager? What environment gives you the best chance to improve?"