Real Madrid are being linked with a €100 million bid for the Uruguay striker.
"Whether Liverpool win the league or finish third, there will be Champions League football back next season," Rush told the Daily Star Sunday.
"The club will look to improve the squad for next season and you certainly won't be improving it if Suarez is not there.
"It was 100 per cent correct that he has picked up all of these awards. He was unlucky last season that Gareth Bale had played so well.
"And as much as some people in football don't like him, they can't say he hasn't been entertaining this season. Luis has been fantastic."
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