Fowler, nicknamed as 'God' by Liverpool supporters because of his terrific goalscoring exploits in the Premier League, has been very happy with Liverpool's No 7.
While the Uruguayan's record does not compare favourably with Fowler's 120-goal haul with the Reds achieved over nine seasons, the Englishman believes that the current Liverpool striker has the added advantage of being able to open up defences with his dribbling ability.
"Luis has been fantastic since he joined the club - his all-round game has been outstanding," Fowler told Liverpoolfc.tv.
"He's been a breath of fresh air and caused defences all sorts of problems. He can be very satisfied with how he's played overall this season."
The ex-Liverpool striker was one of the league's leading poachers during his time at the club. He benefitted greatly from the service provided by Steve McManaman and he believes that he would have enjoyed playing with Suarez had the two been paired on the pitch at the front of Liverpool's attack.
"For me as a goalscoring player, you always want players around you who can create," he said.
"In the games I've seen this season, Luis has created a lot of chances. As a player, I would thrive on playing with someone like him.
"For goalscorers, those type of players are great to play with."
Suarez last scored against Everton in the FA Cup semi-final. He equalised for Liverpool after he was gifted a one-v-one opportunity because of a poor pass by Everton defender Sylvain Distin.
He made no mistake with the chance and he saw his strike partner Andy Carroll grab the winning goal shortly afterwards as he headed in Craig Bellamy's free-kick. Fowler was happy at seeing the two partner well together in the game and he believes that the duo can only get better with time.
"I think they've been tremendous in the last few games and they've worked well together," he said.
"They were brilliant in the semi-final against Everton, both of them scored and I don't think you could have scripted that any better.
"It was a fantastic game for the two of them. They've scored a few goals together as a partnership recently and let's hope as supporters they can continue to go on and on."
Liverpool are in eighth place and have performed poorly this season. Their only consolation thus far is their Carling Cup win over Cardiff earlier in February and the prospect of winning the FA Cup when they take on Chelsea on May 5 in the FA Cup final.
Fowler understands that things have not gone so well for the Reds but he believes it's important for the side to win their remaining league games in order to go to Wembley in the right mentality.
"At the start of the season, we all wanted to finish as high up in the league as possible and it's still important we go into every league game from now until the end of the season, try and get as many points as possible and finish as high as we can.
"I know it's a bit of a cliché in football, but every game is vitally important now, especially with the Cup final coming up.
"Players will want to play well and impress to try and get a place in the Cup final.
"Let's hope they go out tomorrow [Sunday] against West Brom and get a great win and another morale boost to add to the ones we've had of late."
Liverpool play West Brom while their Merseyside rivals Everton visit Manchester United on Sunday. Should results go their way, the Reds can leapfrog their city rivals into seventh place.