The Tottenham Hotspur man has been linked with a move to the Santiago Bernabeu at the end of the campaign, and Suarez feels that the Welshman would dovetail with the Portuguese forward to devastating effect in La Liga.
"Real Madrid would take an important step up in quality with both Bale and Cristiano in the side," Suarez told Marca.
"The two of them together could tear defences to pieces. I have no doubt that after Lionel Messi and Cristiano, he is the most interesting player out there right now.
"He started out as a left-back and now he's playing as a second striker. He can play wherever you put him: on the right, through the middle, on the left. He always heads straight to the opposition's goal. I've seen him take free kicks and he's like Cristiano."
Bale is Tottenham's top scorer with 17 strikes for Andre Villas-Boas's side.