Daniel Sturridge came on at half time and made an immediate impact, hitting the post before scoring the equaliser having been found by Suarez's pass.
Suarez then conceded a penalty for a handball from another Chelsea corner, allowing Eden Hazard to calmly send Reina the wrong way and restore his side's lead.
The Uruguayan striker appeared to bite Branislav Ivanovic on the arm during the match, but he was not penalised for it and took full advantage by nodding his side level in the 97th minute.
Here, Sports Mole delves deep into a highly controversial and dramatic afternoon at Anfield.
On target 12
On target 6
Was the result fair?
Just about, yes. The first half wasn't the best 45 minutes of football and Liverpool were perhaps unfortunate to go in behind. The Reds were much better in the second period but found it hard to break down a resolute Chelsea defence. The Blues did well to soak up a lot of pressure and looked to have pulled off a fine backs-to-the-wall win until Suarez's equaliser. On the overall balance of play, Liverpool were the better team on the day but a draw is the fairest result.
The hosts started the match very brightly, but that soon changed as they struggled to create anything for large periods of the first half. Daniel Sturridge's introduction in the second half had a big impact on Liverpool, however, and they started it brilliantly, almost scoring twice in the opening few minutes. They found it hard to find a way through Chelsea's defence at times, but never gave up and were rewarded by the late goal.
They were far short of their best in the first half, but had done well to go into the break with a lead. They were better in the second half despite Liverpool enjoying most of the attacking chances and were particularly strong defensively. Liverpool were usually restricted to long-range shots and, when the defence was breached, goalkeeper Petr Cech was on hand to help his side out. They looked like they had stolen a textbook away win until Suarez's header, but a draw isn't a terrible result for the Blues.
Sports Mole's man of the match
Daniel Sturridge: Rarely does a man of the match award go to a player who only played for 45 minutes, but Sturridge had a bigger impact on the game than anyone else. Within 20 seconds he had created a great chance for Steven Gerrard and just minutes later he hit the post with a fine long-range strike. He took his goal well and also picked up the assist for the late equaliser with a fine cross.
Luis Suarez dominates this category. Take your pick from his bite or his handball that led to Chelsea's penalty. The latter is probably the best option as labelling his bite as a mere 'gaffe' is a bit too generous to the Uruguayan. He had no reason to have his arms so high in the air inside the box when he gave away the penalty and can have no complaints at the referee's decision to award the spot kick.
Kevin Friend had a busy afternoon but he was perhaps a bit too card-happy on occasions. There were a number of challenges that brought a yellow that could have been dealt with by simply talking to the player. At the same time, there was a bad tackle from Sturridge that could have reasonably drawn a red card, but Friend didn't even award a free kick. He got the penalty decision right, though, and can't be blamed for missing the Suarez bite as it is not something to look out for and happened off the ball.
Liverpool: Next up for Liverpool is a trip to Newcastle United.
Chelsea: Chelsea, meanwhile, return to European action as they take on Basle in midweek before facing Swansea City on Sunday.