The Reds skipper recently claimed that he tried his best to keep the Uruguayan with the Reds, as speculation over his future raged during the summer.
Suarez has since expressed how highly he regards Gerrard, and described him as a "legend" who made his choice to remain at the club easier to make.
"Gerrard, for me, is a legend in Liverpool and a great teammate that helped me a lot," El Pais quotes Suarez as saying.
"I do not know if he prayed [for me to stay] but what he said is what he feels because he was talking to me all the time. His attitude was an extra boost for me to take the decision to stay in Liverpool; both he and the fans of Liverpool influenced much for that.
"I admire him for the great player he is worldwide. For me he will always be a benchmark and at club level he is the best player I have played with in my career, as a person and as a footballer."
Both players were on target in Saturday's 3-1 win over Crystal Palace.