The 26-year-old forms part of a three-pronged attack for Oscar Tabarez's side, alongside Napoli's Edinson Cavani and Internacional's Diego Forlan, and Scolari is wary of the danger the trio present.
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"Cavani is the top striker in Italy, Forlan was the best player at Copa America and Suarez was the best player in England."
Having presided over three victories in his team's Confederations Cup campaign thus far – with nine goals scored – Scolari believes his Brazil side are beginning to make the improvements necessary to challenge for honours.
"We look at improvements after every game and have made progress," Scolari continued. "The team is just about ready and the players know they’re key.
"The fans may not have been 100 per cent sure we were that strong, but now we are earning back the history of Brazil teams.
"We are better than we were in Feb. We have a good foundation in place now and the whole group is more confident."