Gerrard, who was appointed the Rangers manager in the summer of 2018, played with Suarez - now at Barcelona - at Liverpool.
The move did not materialise, and the Uruguay international switched to Spanish and European giants Barcelona in the summer of 2014 for a transfer fee reported by BBC Sport to be worth £75 million.
Suarez has revealed how former England international midfielder Gerrard, then his teammate at Liverpool, convinced him not to switch to the Gunners.
"I'm about to go to Arsenal, forcing myself to go, and Steven tells me 'I promise that if you stay this year you're going to take off and next year you'll go to Bayern, Barcelona, Real Madrid or whichever one you want, but stay this year because you won't be better off at Arsenal’.
"This was the last conversation I had with Gerrard at that moment and I told my agent that I had made my decision and I was staying. His words convinced me in that moment.”
Suarez has been a huge success at Barcelona, and the striker has won more trophies at the Spanish club than he would have at Arsenal.
The former Ajax ace has won La Liga three times, the Copa del Rey on four occasions, and the Champions League on one occasion with Barcelona.