Suarez, who has 15 Prem goals so far and is just one behind Robin van Persie, has won over Keegan and Barnes despite last season's racism and diving rows.
Keegan said: "If he doesn't win Player of the Year it won't be for what he has done on the pitch.
"It will be people looking at last season, the diving, the racism incident. But I would pay money to go and watch him."
Keegan's fellow ESPN pundit Barnes believes Suarez has the edge over RVP. He said: "Suarez would be my Player of the Year because of what he has done individually.
"Playing for a bad or a good team, for Liverpool or Uruguay - he'll do it."