The Liverpool captain will miss the club's tour of the Far East, opting to continue his individual recovery programme at the Reds' Melwood training ground
Also missing from the squad that is currently in China is Suarez, who is with Uruguay in the Copa America.
And Gerrard admitted he has been impressed by his skills and attitude on the pitch.
"Luis is dynamite. He's been magic for us so far. If he can maintain his form I think we've got a star on our hands. He's so direct and has the desire and bottle to get into the box ahead of the defender. He must be a nightmare to mark," the 31-year-old was quoted as saying in LFC Weekly.
"I'm itching to get out there alongside him because every time I watch him he excites me. He looks like he's going to create something, if not score.
"It's early days and we can't get too carried away by putting too much pressure on him but if he can keep producing those kind of performances, he will be a fantastic signing.
"When Andy [Carroll] is fit, the two of them could make a deadly partnership."
Gerrard went on to praise the Uruguayan's fighting spirit, which he likens to that of Rooney and Zidane.
He added: "You look at Zidane, Rooney - it's just the way they are," added Gerrard. "The players that don't have the edge lack something, that sparkle or fire in their belly.
"That's what makes Luis who he is. He's a fighter and despite having a lot of skill, he's a worker as well. That's what separates him from others."
While Suarez has taken most of the attention since his arrival at Anfield last season, Gerrard is quick to give credit to Dirk Kuyt, who has been the unsung hero for the Reds.
"Sometimes his work goes unnoticed but we as players always appreciate the shifts he puts in," Gerrard continued.
"Dirk and Luis particularly were very influential towards the end of last season - mainly because both players work unselfishly for the team. The pair of them don't give defenders a moment's rest.
"When you do see them working like that, it encourages the team to do the same - defending from the front."
Liverpool will play Guangdong Sunray Cave in Guangzhou on 13 July and Malaysia on 16 July before rounding off their Asian Tour with a training session in Singapore.
They kick off their Barclays Premier League campaign at home to Sunderland on 13 August.