The Sweden international made the switch to Turf Moor until the end of the season after Martin Jol was keen to give the 21-year-old first-team experience.
Kacaniklic only recently arrived in Lancashire but Dyche is fully aware that it is unlikely he will be able to pry him away from the Cottagers on a long-term basis.
"I'm imagining [a permanent deal] would be unlikely, but if it's not I'd be buzzing," he told the Burnley Express.
"I might even get my own money out to sign him!
"He's a young talent. He's a very good player but he's 30 games or so into his career, so he's got more development to come.
"He's hungry for development and all credit to him."
Burnley are currently 10th in the Championship, eight points adrift of the play-off places and face promotion-chasing Hull City and Watford either side of a derby clash with neighbours Blackburn at Ewood Park in March.