After losing their first game to Costa Rica, the South Americans threw themselves back into contention by overpowering England, yet will need all three points against the Azzurri to progress.
“We know what is at stake and we know that we have to qualify,” said the Liverpool frontman.
“Both teams will want to win and it will be a lovely game to play.
“We are ready to face the best possible Italy team and then we will play the way Uruguay play when we want to reach something.”
Suarez admitted that his body was fully stretched in his side’s win over England, as he made all the difference with both goals over the Three Lions less than a month after undergoing knee surgery.
"I was the other day really at the limits of my physical capacity, as I was for the last match with Liverpool last season,” he revealed.
"Last week I was full of cramps and I was tired but of course you have a certain experience and you can build yourself up and come to the next assignment and this is what I am doing.”
Yet Suarez feels he is fit and ready to go in his team’s crucial encounter against Cesare Prandelli’s charges.
"The knee feels good,” he said.
“I think it’s in perfect shape but when you have surgery, you need some time to see the reaction.
“Having played so much of the England game and been the object of so much attention‚ if the knee didn’t feel good, I would have told the coach.
“But I am cool right now.”
Kick-off for the match-up between Italy and Uruguay is at 6pm.