The 41-year-old, who has been playing for Chivas USA in the MLS since 2006, said he planned to become a coach.
"I'm relaxed, conscious that time has passed. This moment had to arrive and I took the decision. I already want the next step, to be a coach," Suarez said.
"I've done the coaching course in Mexico, I have the title and I'm going to do one in the United States league," he was quoted as saying on the mediotiempo.com website.
"I had a good football education with Pumas... that gave me the basics to be a successful player, both technically and tactically and mentally. That learning (process) was essential, that's why I lasted so long (as a player)," he said.
Suarez also played for Guadalajara, Mexico's most popular club with whom he won another league title in 1997, and Tigres UANL.
