Jol was quoted as saying that Suarez would only leave the Amsterdam Arena to go to one of the very "top clubs", and that a move to Spurs would not happen for that reason.
However, the former Tottenham boss claims he never aimed a dig at the north Londoners, amid speculation he was trying to undermine the White Hart Lane outfit.
Suarez, 23, has been in electric form for Dutch side Ajax this season and Jol admits there was interest from Spurs earlier in the campaign.
However, he insists the Uruguayan will demand a big transfer fee and he is hoping to keep hold of him for a little longer.
"They (Spurs) took an interest in our winter break and I said then Luis Suarez wanted to stay at Ajax because he promised me that he would stay for at least another year," he told Sky Sports News.
"Nothing to do with Tottenham or another club, he wanted to stay.
"And then it was finished so there was no problem. So this talk about Tottenham being not good enough for him is ridiculous.
"They have Jermain Defoe, Robbie Keane, all these players. If they are good enough to be playing for Tottenham, Luis Suarez could be playing for Tottenham because he's a good player.
"They are all good players, Tottenham is a great club, but I never said that.
"The case was that he didn't want to go to another club, he didn't want to go to Tottenham and that was finished, the book was closed.
"You never know what will happen in the future."
Asked if he expects Suarez to stay, Jol added: "To be honest I don't know because he's scored in all competitions, 45 goals, and even in Holland that is a great amount of goals.
"So I don't know what will happen but he's got a high price, that's what I said to (Spurs chairman) Daniel Levy as well.
"I think it's pretty difficult for a club to afford him."