Real Madrid are allegedly plotting a move for the Uruguay international, but the German believes that his value has increased in light of his recent performances.
"No, absolutely it's not enough," he told Goal.com. "I think £55m-60m was the figure they would have wanted at least in the summer, and you see how he's playing now, I don't think £60m would be enough."
Hamann went on to say that he believes Suarez is happy Anfield, but warned the club that he could leave in the summer if they fail to qualify for the Champions League.
"I don't think he'll leave in January - I don't think that's an option - Liverpool have to keep him if they want to finish it in the top four. But that remains to be seen," he added.
"If they don't finish in the top four then there might be a chance for him to leave. He's given his service now, done his utmost to get Liverpool into the top four and unfortunately they haven't managed it so far.
"If they don't [qualify for the Champions League] then I think it's a similar situation [to last summer]. It would take a ridiculous bid, and then there might be a chance he'd leave. I don't think you can blame the boy."
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