Reds captain believes Kenny Dalglish's side are in a better position since the signing of two new strikers in January despite losing the Spain international to Chelsea
Admitting that he enjoyed playing with the departed Spaniard, Gerrard told Sky Sports that simply having two quality forward options means the Reds are now better equipped heading into the future.
And the Anfield hero has also been impressed with how Uruguayan Suarez has taken to his new role.
“Suarez has only played a few games but we know he will be a top player,” said Gerrard.
“Training and playing with him in his first few games he has been strong and technically good, but Fernando in his first year with us was frightening as well.
“But I think Liverpool are in a better position having two top forwards instead of one. I enjoyed playing behind Fernando but if you said I could have Fernando on form or Andy Carroll and Luis Suarez on form, I would take the two over one.”
Torres’ deadline day move to Stamford Bridge sparked a flurry of activity as the Reds were left to fill the void of the World Cup winner's departure, and Gerrard admitted the players felt disappointed by the striker’s decision to move to the capital.
He added: “We felt slightly let down, like the supporters we wanted him to stay as he is a top player. But he made his decision and we have to respect that."
Currently sidelined from club and international duty with a groin injury, the Reds skipper also believes his club were right to respond to fan’s demands for the removal of Roy Hodgson in January.
“When the Liverpool fans turn against you, you have to listen,” added Gerrard. “They are Liverpool Football Club.”