"This prize is more important for Stevie," Suarez told the club's official website. "I spoke with him about what we're going to do with one prize because we've both won player of the month, but it's for him for all he's done in his career.
"It's important because in the last few games, he's scored important goals. All of the players have tried their best on the pitch and if you have a really good team and squad on the pitch, you have a chance."
Liverpool are currently at the top of the league table with a two-point lead over Chelsea.
On Sunday, the Merseyside outfit will take on title challengers Manchester City, who have two games in hand, at Anfield.