In the dying stages of the Ghana v Uruguay quarter-final, Suarez purposely handled the ball in the final minute of extra-time to deny Ghana a match-winning goal.
Ghana were awarded a penalty which Gyan stepped up to take but missed before the African nation were eliminated by the South Americans in a penalty shootout.
The incident was labelled the 'Hand of Devil' by some but Gyan has been able to forgive Suarez, saying it was simply part of the game.
"I've forgiven him - it's part of the game," Gyan said.
"As I always say, if it was me, I would have done the same thing. In the last minute, if you're going out, he made himself a hero in his country. It was cheating to handle the ball, but I would do the same.
"Maybe I will do it for Sunderland in one important game. He's done a great job for his country.
"Suarez is a hero because he got his team to the semi-finals. He's like a hero for that cheating. The referee should have done something about it, but that's life.
"Penalties? For me, I have done a good job for my country. I think 90 per cent of the penalties have been scored by me despite that miss. That's life."