The Uruguay international incurred a 10-match ban for biting Chelsea's Branislav Ivanovic last season, before angling for a move away from Anfield throughout the summer.
|5/2||Luis Suarez is 5/2 with William Hill to be the Premier League's top scorer|
"Seventeen months on, I'm a much better manager for that experience," said the former Swansea boss.
"Some of the things Suarez has done, he knows were wrong. Some of them have been really testing situations as a manager. There've been some challenging moments.
"There's no club bigger than Liverpool. Luis now respects that decision because he's very happy here, and improving all the time."
Despite missing the first five games of the season through suspension, Suarez has netted eight times and is the Premier League's joint-leading scorer alongside team-mate Daniel Sturridge and Manchester City's Sergio Aguero.