Dyche, who spent two seasons as an assistant manager to Mackay at Watford, took over as Hornets boss in July 2011 following the Scot's move to Cardiff.
He guided Watford to an 11th-place finish, but was let go at the end of the season following a change of ownership at the club.
The 41-year-old, who took over Burnley in October 2012, has warned there will be no favours done as his side look to steal three points from the league leaders this Saturday.
"We'll have to be ready, give a good account of ourselves and search for those three points," Dyche told Sky sports.
"In many ways he's quite similar to me. He's a winner and wants to win. He'll want them to go all the way and there will be no favours done, you can be sure of that.
"The best thing about Mackay is he's got the job done whatever way it takes.
"That's part of life in the Championship and he knows that as well as anyone, having played and managed in this league.
"In this division you have to find a way to get results. And they (Cardiff) have won in all ways, with set-pieces, or with fluid play and they've got ugly and ground teams down.
"All credit to him, he's got the job done."