Burns makes the third defence of his WBO world lightweight title against Walsh at London's ExCel three months after producing a career-best performance against Kevin Mitchell.
With a modest 13-0 record – and all but one of them coming in the super-featherweight division – Walsh is being given little chance against the 29-year-old Scot who is in the form of his life.
But Burns will treat his opponent with the utmost respect as he targets future appointments with fellow lightweight title holders Antonio DeMarco and Miguel Vazquez.
"People are writing Liam off saying he's got no chance, but I can't look at it like that. This will be trickier than people think," he said.
"Liam is a good boxer, but I've had these big unification fights dangled in front of me and that will give me a bit of extra incentive.
"Right now, though, Liam has my full attention. I'm training for a 12-round war. He's got nothing to lose and has been performing well.
"Liam got offered the fight and jumped at the chance and it was the same when I boxed Alex Arthur (Burns lost on points in 2006).
"I'd only had 13 fights and he was British, Commonwealth and European champion."
Burns thrilled the nation with the manner of his victory against Mitchell in what was viewed as a genuine 50-50 fight, not the one-sided demolition that transpired.
Walsh, who ended nine of his 13 victories early, is only too happy to be regarded as a rank outsider.
"It's always been my dream to be a world champion and now I've been given my opportunity, which I'm grateful for," he said.
"It's win-win – if I win I get a world title, if I lose well no one expected me to win. Ricky lost early in his career and look where he is now."