The 26-year-old made just his third one-day international appearance, and first in more than two years, in Australia's 198-run thrashing of Zimbabwe on Monday.
Lyon, already an established figure of his country's Test team, is trying to make a spot in the one-day team his own ahead of next year's Cricket World Cup – to be played in Australia and New Zealand.
The Proteas could opt to target Lyon in the second match of a tri-series also involving Zimbabwe but the Australian said he would welcome the battle.
Lyon told reporters: "They are a world-class side. It's going to be a great challenge for Australia.
"We're definitely up for the challenge.
"There's no doubt they're going to target me in the bowling attack. But I'm more than happy for that.
"It's a good opportunity for me to take some wickets, so I'm looking forward to that."
Lyon's only other one-day international appearances came in March 2012 as he was battling with trying to become his country's first-choice spinner.
With 112 wickets in 33 Tests now, though, Lyon has grown in confidence and stature in the Australian ranks.
And he is desperate to grab his fresh chance with both hands ahead of next year's showpiece.
"I want to play all three formats for Australia," he added.
"My challenge now is to keep my role in this side and keep performing well and try and take wickets.
"I had to work on my game and the different challenges of my bowling. I'm confident in my skillset now to get the job done in any circumstances.
"I'm feeling really good about my game and I'm just looking forward to this next opportunity."
Australia all-rounder Glenn Maxwell starred in the win over Zimbabwe, smashing 93 from 46 deliveries.
And he hopes that his side's top order can once again lay the platform the lower-order hitters.
"It was nice to basically come in with that freedom," he said.
"The top order did all the work to allow us to have that freedom to play our shots. It was nice to express myself a little bit and start the tournament off well.
"It'll be a good, even contest [against South Africa] and one we are certainly looking forward to."