The Reds faced Chelsea in the Premier League on Sunday and, after Suarez had a shot blocked by Ivanovic, the Uruguayan proceeded to grab his opponent before clamping his teeth into the center back's arm.
On Wednesday Suarez was handed a 10-match ban for the incident, but PFA chief Taylor believes he should be given help in the form of counseling as well as the hefty suspension.
"The essence of justice is extremely difficult, all I know it was an extraordinary situation," Taylor told Sky Sports News. "It did create quite a strong feeling of condemnation, it is something we don't want in our game, it is something that has happened before which will not help and there has been other problems before which we are aware of.
"And I think there are two ways you can deal with justice, one is a sanction and deterrent, which this is definitely sending out a strong message, but what I would like to re-emphasize is that trying to get the particular player, in this case Luis Suarez, back on track and make sure there is a proper programe of counseling.
"There is a sports psychologist at Liverpool and clearly you hope there will be some renewed effort to improve matters and we have offered our help, and it is a twin approach, sanction and education to make sure it does not happen again."