Despite sticking by Suarez through some difficult times, Liverpool risk losing the Uruguayan in the summer if they cannot deliver UEFA Champions League football.
And the Reds skipper is urging his team-mates to meet the ambitions of their star striker by fighting their way up the table.
"Hopefully, we can put a fight on for him between now and the end of the season to finish fourth and we make a decision for him," said Gerrard, quoted in The Sun.
"Only he knows what his ambitions and dreams are. Luis deserves to be in the Champions League - everyone has to admit that.
"Outside of Leo Messi and Cristiano Ronaldo, I'll argue he's as good as anyone else.
"He's probably the best player I've played with and I've played with some top players in my career."