The Reds are enjoying a superb campaign and are five points clear at the top of the table with just three games left to play, including Sunday's crucial match against title rivals Chelsea at Anfield.
And star striker Suarez thinks a Premier League success will be all the more sweet because Liverpool have not spent as much as the other contenders.
"To win the title would be something that no one would believe," he said.
"The truth is we're surprised ourselves at how well we're playing. We have good players who are demonstrating why they are playing for Liverpool.
"It would be something amazing because of the investment made by Chelsea, Manchester City and Arsenal. Even Tottenham have spent over £100m.
"We, with so little investment, are in this position. It would be incredible.
"We were clear that our aspirations were to qualify for the Champions League, that was our primary goal. Until we confirmed that we were in the Champions League, we weren't happy.
"Now that has happened and now we are top of the table, we are going to try and take advantage. We want everyone to feel our presence in all the games.
"But, if we don't win it, we will try again next year. We have realised this year that, with these players, it is possible."
Best in the world
Suarez looked on the verge of leaving Liverpool at one point last summer but has stayed to spearhead the title challenge, scoring 30 goals.
And the Uruguay international is not planning to move on, adding: "For me the Premier League is the best in the world.
"You will see Norwich, Cardiff, Crystal Palace against any big team and you will see crowded stadiums, people living the game with passion.
"In that moment you realise that, in the Premier League, you cannot relax at any time. All the games are played at the top level and that is the beauty of it."
Liverpool v Chelsea is live on Sky Sports 1 on Sunday, with coverage beginning at 1.30pm