The Uruguayan has become a hit at Anfield this season since joining last winter and told France Football that he is aware of how much the number means to the Reds.
"It gives me huge pride," he said. "When I think about the players who have worn it before, like Kenny Dalglish or Kevin Keegan, it's been legends at the club.
"When I go onto the pitch, I am aware of the privilege I have been given to wear that number."
He also added that he was realising a dream by playing for Liverpool.
"When I was a kid playing on the PlayStation, I always chose Liverpool. I've never said it before, but they were already my team at that time," Suarez added.
"To me it was a dream come true."