The Clarets manager believes that the Foxes' Thai owners have set a benchmark for other club owners to follow.
Dyche will take his side to the face the reigning Premier League champions at King Power Stadium on Saturday.
"I was certainly one lauding Leicester last season for the right reasons and will continue to do so," Dyche said.
"What the manager has done is terrific but what the club has done there is terrific, in my opinion. I've looked at it from the outside-in for a number of years and I think the owners have done fantastic there.
"I don't study their club but they never seem to be too much in the public eye, they seem to be building. I know some of the work they've done off the pitch, in the training ground etc, etc and they seem to have been building things for a long time.
"It seems to be quite a clear message to people of possibly how to do it. If it is money coming in from offshore, to develop a club. I think they've done it really, really well."