An early double for the Uruguayan and a header from Daniel Agger heaped misery on Harry Redknapp's side, who will go into the New Year rooted to the bottom of the Premier League
Suarez struck twice in the opening 20 minutes before Daniel Agger headed home from a corner in a dominant first half for Liverpool.
Reds boss Brendan Rodgers missed the trip through illness so Colin Pascoe took charge, making three changes from Boxing Day's defeat to Stoke, while the most notable change in four for QPR saw Rob Green dropped after his clanger in defeat to West Brom and replaced by Julio Cesar.
The Reds started brightly and Suarez forced an early save from Cesar with a fierce drive that the Brazilian parried towards Joe Allen, but the Welshman scuffed his volley when following up.
Suarez was not to be denied in the 10th minute, though, as he picked the ball up 30 yards out and drove towards goal, leaving Clint Hill in his wake before calmly slotting home from inside the area.
Six minutes later, Liverpool and Suarez had a second as Stewart Downing released the No.7 down the right and he lashed the ball across the box towards Raheem Sterling. Nedum Onuoha's last-ditch block ran back to the former Ajax man who swept home from six yards.
The hosts had a strong shout for a handball turned down as Jordan Henderson elbowed Adel Taarabt's free kick clear before Stephane Mbia's bicycle kick flew over the bar.
Harry Redknapp's side were split open again soon after as Martin Skrtel's long ball from the back released Glen Johnson. The right-back stormed at goal before scuffing an effort across Cesar but Ryan Nelsen hacked away with Suarez awaiting a tap-in.
The Hoops were undone again before the half-hour mark as Downing's quick corner found Gerrard who swung a cross in that an unmarked Agger nodded back across goal and past Cesar at the far post, which had been vacated by Shaun Wright-Phillips.
Suarez was running rampant and bundled into the box before cutting back to Gerrard. The Reds skipper smashed an effort that Armand Traore partially blocked before Hill scrambled off the line.
The Hoops were being overrun in midfield but showed some late spark as Taarabt smashed a couple of efforts from range, one of which required a simple save from Reina.
Redknapp responded at the break by replacing Djibril Cisse with Shaun Derry, but little changed as Sterling burst in from the left before feeding Suarez, whose stinging left-footed effort drew a flying save from Cesar.
The Reds' tempo dropped in the second period, with Reina being called into action by Taarabt and Mbia, while substitute Esteban Granero hit a low free kick wide with his first touch.
The hosts ran out of steam late on, with only a tame Mbia free kick to show for their efforts as the game meandered to a close. Liverpool climbed one place to ninth and ensured the Hoops will end 2012 rooted to the foot of the table.