The Reds captain insists the wantaway Uruguayan striker is still loved at Anfield but accepts he could leave the club as Arsenal remain intent on taking him to the Emirates
The Reds' top goalscorer is subject to interest from rivals Arsenal, after the north London club tabled a bid of £42 million in July.
Goal understands Suarez is preparing to submit a transfer request to force through a move to the Gunners, and speaking after a 2-0 win over Olympiakos in his testimonial match at Anfield, the Reds skipper admitted he did not know if the striker would stay at the club.
"We've got some wonderful youngsters who are growing each year. I think it's a big year for Raheem Sterling, Jordan Henderson and we've got a young kid who is going to be unbelievable in Jordan Ibe," he told BT Sport.
"Hopefully we keep our magician No.7 [Suarez] and we can have a crack at winning things this year. That's what I want to do in my final few years; just compete and challenge for the top honours.
"It's not down to me [if Suarez stays], it's down to himself to make a huge decision.
"It's all about himself and his family but the people at Liverpool, and even the people on tour all over the world, they absolutely adore him and they'd love nothing more than for him to stay but it's totally down to him."
Former striker Robbie Fowler, who appeared as a second-half substitute, also added his thoughts on the transfer saga, saying he remained confident that Suarez would stay at Anfield.
"Luis Suarez is magnificent," he added. "I, like every Liverpool fan, wants to see him here and I think the reception he got here, maybe that will sway him."