The Reds captain recently admitted Suárez is the best striker that he has played with during his glittering club career.
And Suárez lavished praise on his skipper, revealing how important the 32-year-old has been both on and off the pitch since the South American moved to Anfield from Ajax in 2011.
“I get goose pimples when I hear he said that,” Suarez said.
“Gerrard is such a good player and what he said about me I will never forget. It’s unbelievable.
“He has such a good record over many years in the English game and is a great example to all the players here, especially to me.
“We all respect him. He has won almost everything and if anything goes wrong on the pitch he never tells the players off.
“He just speaks to them afterwards and when he speaks to them you can take it as a fact that he is right. He is just trying to help people.
“Steven has also said things to me in private that I will never forget, about things that have happened and things that I can do here.
“These are conversations that players have. People don’t hear them but they are so important. They make a difference to a person like me, to my career and my life.
“The ones we had are private but say everything about him. Steven has given me motivation to carry on and do well with what he has said. He has helped me hugely.”
Get enhanced odds of 30/1 on favourites Barcelona, Juventus and Atletico Madrid to win their games on Saturday with Paddy Power.