The Uruguayan has told officials at Anfield that he wants to leave the Merseysiders in the summer, and welcomed rumours of interest from the Gunners after they were reported to have seen a £30m bid for the player rejected.
However, Toure, who won two Premier League titles and three FA Cups with Arsenal, feels that Suarez is better equipped to achieve his ambitions at Liverpool as opposed to moving to the Emirates Stadium.
"Luis Suarez does not need to leave to fulfil his ambitions," said Toure, according to The Guardian. "If he stays here he will have more chances to win trophies.
"This club is definitely prepared. The organisation, the mentality of the players and the staff. It's amazing. It's a top professional club. Luis is a great player, a fantastic player. He is a massive player for Liverpool.
"I have played against Suarez and he is a fantastic player, one you would want on your side, but in the end it will be up to the club to decide what they think is best for everybody."
Suarez scored 30 goals in 44 appearances for Liverpool last season.