The England captain also revealed the one former team-mate he would bring back to the club, given the chance, would be Real Madrid midfielder Xabi Alonso.
Gerrard, in a Twitter question and answer session for sponsors adidas, picked Suarez ahead of the likes of Robbie Fowler, Michael Owen and Fernando Torres - all great goalscorers at Anfield - and England team-mate Wayne Rooney.
Asked who is the greatest striker he had played with Gerrard opted for Suarez, who has scored seven of Liverpool's 13 Barclays Premier League goals this season and produced a wonder strike against Newcastle on Sunday.
Gerrard also singled out the Uruguay international as the player who messes about most in training - "He's a nuisance!" wrote the 32-year-old.
The Reds captain also revealed, given the opportunity, he would jump at the chance to bring Alonso back to the club.
"Xabi Alonso - best midfielder I've played with, I miss playing with him," he wrote.
The feeling appears to be mutual with the Madrid midfielder confident Gerrard, who marked his 600th match for Liverpool at the weekend, would slot seamlessly into Spain's World Cup and European Championship-winning side.
"Absolutely, there's no doubt," said Alonso.
"He could play in any national team in the world because he has so many great qualities.
"He is flexible. He can play at the English pace or he can associate with the ball very well.
"He is a very intelligent player, so he could play anywhere - not just any national team but any club in the world.
"But he has been a one-club man and that's something I really admire."
Alonso believe Gerrard had a significant impact on his career, having moved to Merseyside from Real Sociedad in 2004.
"He was a great influence to me," he told Real Madrid TV in an interview on behalf of Liverpoolfc.com.
"When I arrived at Liverpool I was 22 and he was the captain, he was the main man at the club.
"For me he was a reference, the way he behaved with his team-mates and with the supporters as well.
"I learned a lot from him. We are great friends and we still keep in touch.
"He is so inspirational. In the key moments he has that different thing, that spark that is difficult to define.
"He'll absolutely be remembered as one of the greats. For me he is already one of the greats."
Gerrard and Suarez seem unlikely to make tomorrow's Europa League trip to face big-spending Anzi Makhachkala in Moscow.
Although victory in the Russian capital would strengthen the Reds' position at the top of Group A manager Brendan Rodgers has one eye on Sunday's trip to Chelsea and with Suarez as his only fit senior striker he does not want to risk him.
It means he is likely to field a much-changed side from the one which drew with Newcastle.