The 24-year-old Czech is a former junior champion in Melbourne, while she made a first major impression in the senior game last year as she reached the final of the US Open, where she was beaten in three sets by Angelique Kerber.
However, Pliskova does not believe she has earned the right to be mentioned alongside the likes of defending champion Kerber and Serena Williams.
She commented: "I would definitely not take me as a favourite of this tournament. It's a big draw, there are a lot of players. I just take it step by step.
"There are still I think many more players better than me. We will just see after few rounds here."
Meanwhile, Johanna Konta, who reached the semi-finals in Melbourne 12 months ago, is well aware that she faces a tough opening match against Kirsten Flipkens.
The pair have met on three previous occasions, with Flipkens coming out on top in their sole meeting last year, winning in three sets in the quarter-finals in Monterrey.
"I'm looking forward to the challenge, the opportunity to play her again," Konta said. "She's a great player.
"She's a Wimbledon semi-finalist. She's been around the tour for a long time and that's not by accident."
