Suarez signed a new £200,000-a-week deal in December to keep him at Anfield until 2018.
Anfield hero McManaman said: "I think he will stay. He's signed a new contract.
"It's important for superstars to play in the Champions League every week. It is the over-riding fact that they want to test themselves against the best players.
"Liverpool are on the right track. If they finish suddenly finish sixth in the league there will be question marks but if they win the league or second or third and are in the Champions League there won't be any assumptions about whether he stays or goes."
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