Suarez's Barca head into the game in the Bernabeu at teatime on Saturday holding a three-point lead at the top of La Liga, but the Uruguayan striker has dismissed suggestions that a win for the visitors would make them firm favourites for the title.
He told reporters: "To arrive at the Bernabeu with a three-point advantage over Real is great.
"I don't know if we are favourites, but Real is always Real and we know what they can do so must be very focused. We hope we can win this game, we are in good form and eager to bring back a victory.
"But winning and taking a six-point advantage over Real Madrid in the month of November does not mean we are guaranteed to win the title.
"There is still a long way to go before the end of the season. We cannot forget that Atletico Madrid will also be fighting for the title."
Barca hope to have Lionel Messi back to play some part against Real, with the Argentinian superstar having been sidelined since early September due to a knee injury.
In his absence, Suarez and team-mate Neymar have stepped up to the plate, with the former having scored six goals in his last four games and the Brazilian ace having found the net five times in his last three club outings.