The 32-year-old Brit secured a much-needed victory in their rematch with a fourth round stoppage, thereby keeping alive his hopes for a shot at a heavyweight world title.
Whyte - who suffered a shock defeat against Povetkin last year - subsequently told Sky Box Office: "The first time I shouldn't have lost. It's just one of those things, I'm just annoyed at myself. All I had to do was be a bit smarter, that's all.
"I was tempted to just go hell for leather in the first round, but maybe that wasn't the smartest thing to do, because he's an Olympic gold medallist, a former world champion. He's only lost to me, Joshua and Klitschko.
"It shows how good the guy is, and he's very strong still. He threw an overhand right that I caught on my shoulder.
"I still believe I can be a world champion. I carry power. I can beat anyone."
Promoter Eddie Hearn subsequently raised the possibility of Whyte fighting in the US, as he bids for a shot at a world title.
Hearn - who also promotes Anthony Joshua - said: "I would like to get him back out quickly in the summer, maybe go over to the States and have a big fight as well.
"The ultimate aim has always been for Dillian Whyte to challenge for the world heavyweight title. Everyone knows in boxing, he is a handful for anyone in the division.
"Tonight was about getting his career back on track, the world title ambitions back on track. Coming back from that knockout, it wasn't easy."