The match comes nearly 12 months after the two sides met in the World Cup semi finals where Holland came out on top.
Suarez, who signed for Liverpool during the January transfer window, was unable to feature after being sent off for deliberate handball in the quarter final against Ghana.
The re-match will bring back memories of what could have been for the 24-year-old, who is relishing the latest clash.
"I would have preferred to have played in the semi finals at the World Cup game against the Dutch team, but I'm excited to play against Holland in Montevideo," said Suarez.
"It is not a friendly game, because we always want to win and we prepare for the Copa America. And we want revenge for the lost semi final match.
"I look forward to the battles with Heitinga, who we always fought with at Ajax's training, and with Van der Wiel."
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