We report a measurement of the dynamical polarizability of dysprosium atoms in their electronic ground state at the optical wavelength of 1064 nm, which is of particular interest for laser trapping experiments. Our method is based on collective oscillations in an optical dipole trap, and reaches unprecedented accuracy and precision by comparison with an alkali atom (potassium) as a reference species. We obtain values of 184.4(2.4) and 1.7(6) a.u. for the scalar and tensor polarizability, respectively. Our experiments have reached a level that permits meaningful tests of current theoretical descriptions and provides valuable information for future experiments utilizing the intriguing properties of heavy lanthanide atoms.