Despite leading the division going into the Christmas period, just three wins in their last seven Premier League games have seen Brendan Rodgers's side drop to fourth - eight points off the Gunners.
Liverpool have lost all three games against their title rivals so far this season - defeated by Arsenal, Manchester City and Chelsea - and Suarez feels that a win on Saturday would be beneficial beyond just the points haul.
|12/1||Liverpool are 12/1 with Bet365 to win 2-0 against Arsenal|
"We didn't have success at the Emirates Stadium [in November] so our objective now is to win and I believe we have that chance.
"It has been such a hard season. It's rare that everything could be decided on the last day but we must keep going and to ensure that happens we need results against the other main candidates."
Meanwhile, former manager Kenny Dalglish has hinted that Liverpool should concentrate on retaining their fourth placing - and Champions League football - in light of challlenges from Everton, Tottenham and Manchester United.
He added: "Liverpool are in fourth spot right now and someone has to come and take it off them because they’re not going to give it up.
"They're two points better off than [Everton] and they have a massively better goal difference. You have to play one game at a time but they are in a very good position at a good time."