The Uruguayan international has agreed to join Barcelona on a five-year contract following three seasons at Anfield.
The deal is reported to be worth between £64m and £75m, but the 27-year-old will be unable to play for the Spanish giants in the early stages of the season as he is currently serving a four-month ban for biting the shoulder of Italy defender Giorgio Chiellini at the World Cup.
After the transfer was confirmed, Gerrard uploaded a photo of the pair on Instagram, with the message: "On an emotional day for me would just like to say what a pleasure it has been playing with an amazing talent such as Luis.
"I would like to thank him for his outstanding contribution on the pitch during his time @liverpoolfc and to wish him and his family all the best on his new adventure in Spain. #lfclegend."
Suarez, who was punished for biting and racism during his stay at Liverpool, scored 31 Premier League goals last season.