The Reds spent heavily to secure the services of Stewart Downing and Charlie Adam in the summer and manager Dalglish will be hoping to build on the decent finish to last season.
Suarez has been impressed with the standard of players in Liverpool's squad and he feels the Reds will be genuine title contenders.
"When you play for a club like Liverpool, one of the biggest clubs in England, you've always got to have the aspiration of winning the title," he told the Liverpool Echo.
"You've got to believe with the quality we've got at this club that this can be a realistic possibility. But we know there is a lot of competition and there are a lot of other teams with the same objective.
"The next objective is to make sure you're in the Champions League places. We've got to have the confidence that we've got the type of quality here to be aiming for those things.
"We've got to have the confidence that we've got the type of quality here to be aiming for those things.
"We've got to have an excellent pre-season, prepare really well and then it's a case of being consistent through the season and have a good run of form - not just in flashes through the season."
As well as the continuing arrival of quality signings, Suarez says manager Dalglish is another reason Liverpool must be targeting the biggest prizes next term.
Suarez admits he knew little about Dalglish before he came to Merseyside but soon learnt to follow his lead.
"I didn't know a lot about him before I came here but I know now I'm playing for a great manager," added Suarez.
"I knew he was a significant figure in the history of Liverpool but now I know the manager is a very, very important person. He has given me the opportunity to express myself and show what I can do here.
"The biggest thing is the trust he puts in his players. He trusts us 100 per cent and that makes you want to return that trust and pay it back.
"We know he's had a long career in football, so we trust in his experience. He's not had that long career for no reason, so we value his expertise."
Meanwhile, Reds' legend Ian Rush has backed Suarez and strike partner Andy Carroll to fire Liverpool towards success next season.
"I think if they can gel, which they should be able to, the partnership between Carroll and Suarez could be a really big thing," he said.
"It doesn't matter that they are from different backgrounds. Actually, Kenny and I didn't speak much off the pitch.
"I talk to him far more now than I ever did when we were playing together. We just fitted in because we had different skills.
"The potential is fantastic.
"Andy came to us with injuries last season, but in any case your first spell at a club like Liverpool is always an adjustment."