The Uruguayan was sent home from the World Cup in Brazil and handed a four-month ban from all football-related activity, as well as a nine-match international suspension.
Despite the Uruguayan Football Association defending his actions, Suarez later issued an apology and vowed never to commit a similar incident again.
It has been widely speculated that Suarez issued the apology on the orders of Barcelona, who are determined to sign the controversial forward from Liverpool this summer.
"He said 'I'm sorry' to the soccer family, and that's fair play too," the Liverpool Echo quotes Blatter as saying. "That shows he's a great player and I hope he can have his soccer career back."
Reports have claimed that Suarez has already verbally agreed to join Barcelona.