Swansea appeared destined for relegation to the Championship at Christmas, but Carvalhal has recorded eight wins and six draws from 16 matches in all competitions since replacing Paul Clement in December.
The Welsh outfit host Spurs in the FA Cup quarter-finals on Saturday, and Pochettino has acknowledged that he has been left impressed by his opposite number.
At a press conference, the 46-year-old told reporters: "No, not surprised me. Of course Swansea have quality players. If you find the way that exploits this then he deserves the praise.
"He finds this point to change the dynamic of the team. It does not surprise me, because in football today it's difficult to surprise people, but yes of course he's doing a great job, he, his players and his staff."
Carvalhal has claimed that Swansea are the 'clear underdogs' for the meeting with Spurs.