Knox, 30, has arranged a practice round at Augusta with the 1988 winner.
"It's not every tournament you have a fellow Scot and past champion to show you around," Knox told BBC Scotland.
"I'm looking forward to it and hopefully he'll give me some great insider tips that he's learned over the years that might help me."
Lyle, 58, qualifies as a winner of the Green Jacket, and US-based Knox is the only other Scotsman in the field.
Inverness-born Knox leapt up the rankings in November with victory at WGC-HSBC Champions event in Shanghai and is currently No.34 in the world.
"I still can't quite believe I'm playing at the Masters," he enthused.
"Growing up watching it on TV, now it's my turn to play. It's truly an amazing honour."
Knox has had a taste of the other majors, finishing in a tie for 45th at the US Open in 2013, featuring at the US PGA Championship in 2014 and 2015 and making his Open debut as a reserve at St Andrews last year.
"I've only been to Augusta once before," explained Knox, one of British golf's most promising players.
"It's the most famous course in the world pretty much. Obviously, St Andrews is right up there too.
"Being the first major of the year and with all the history, Augusta just has this hype around it and golf is in a great place right now with so many young, amazing players.
"There's such a buzz around the tournament. The crowds seem amazing and then there's the condition of the course.
"The whole thing is magical, a golfer's dream, and I can't wait to be a part of it."

The raids by 19 RAF Lancaster bombers destroyed two strategically significant German dams and damaged a third.
Taken by the Nazi authorities before and after the raids - on 16 and 17 May 1943 - the aerial images are stamped "Secret Command Document".
The photographs were sold in Nottingham for Â£2,100 - considerably more than the list price of Â£1,200.
As well as the time and date of the images, they also carry a warning forbidding them to be copied.
The revolutionary bombs skipped across the lakes behind the dams and showed how precision attacks were possible in an age when most missions were lucky to get within miles of their target.
Eight aircraft were lost and 56 of 133 aircrew were killed or captured.  An estimated 1,600 people died on the ground.
International Autograph Auctions, of Nottingham, offered a set of reconnaissance images showing the Mohne and Edersee dams.
Two pairs show the Mohne and Edersee dams before and after the attacks and a fifth image of a reserve dam on the Mohne reservoir shows how part of it had emptied out.
Carl Buck, senior researcher at International Autograph Auctions, said: "The usual pictures we see of the dam raids are from photo-reconnaissance Spitfires despatched after the mission or close ups from Germany."
Dambusters expert Charles Foster said: "The fascination with the Dambusters themselves is because it combined so many different things which contributed to the war effort - a revolutionary new weapon, supreme airmanship skills and raw courage in pressing home an attack under fire.
"The fact that it was then immortalised in what is now regarded as one of the best ever British war films just adds to its mystique."
Russell Knox aims to tap into the experience of former champion Sandy Lyle as he prepares to make his Masters debut next week.
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A set of rare photographs showing the impact of the Dambusters' "bouncing bomb" raids have been sold at auction.