Suarez left Barcelona for Atletico in the summer of 2020 in controversial circumstances.
Suarez was deemed surplus to requirements at the Camp Nou after Ronald Koeman took over from Quique Setien in August 2020.
The 35-year-old Uruguayan international spent six seasons with Barcelona after joining from Liverpool in the summer of 2014.
Suarez won four La Liga titles, the 2015 UEFA Champions League and four Copa del Reys among other honours during his time in Catalonia.
His goal tally of 198 in 283 games for Barcelona puts him third on the list of the club’s all-time top scorers, behind only Cesar and Lionel Messi.
"I think he deserves a standing ovation," Xavi said of Suarez in a news conference previewing Sunday's clash with Atleti.
"The best modern-day Barca centre forward, with Eto'o. He has been great. You have to welcome him with honour.
"The pity is that he couldn't leave with a great tribute because of COVID."
Suarez helped Diego Simeone’s men win the La Liga title in his first season and has struck seven times in 20 top flight games this season.
Barcelona are a point behind fourth-placed Atletico in the race for the Champions League places.
