Suarez is facing an extended ban from the Football Association for biting Chelsea defender Ivanovic on the arm in Sunday's 2-2 draw at Anfield. On Tuesday, Suarez accepted the FA's charge, which means he could be suspended for more than the standard three matches. The FA said Suarez's punishment will be decided Wednesday.
Tyson was involved in similar controversy when he bit off a chunk of Evander Holyfield's ear in the WBA heavyweight title fight between the two in 1997.
The two U.S. fighters have since settled their differences. and Tyson is confident Suarez and Ivanovic will do the same.
He told the David Glenn radio show: "He (Suarez) bit someone, it happens. I am sure he will make amends with this guy. I made amends with Evander and we got on with our lives."
Tyson started to follow Suarez on Twitter when he heard of the weekend incident.
He added: "I saw this guy (Suarez) on the Twitter thing and thought I would check it out and see what his journey was all about."
Suarez, who has been fined by Liverpool, called Ivanovic late on Sunday to apologize for his actions.
Information from The Associated Press and Press Association was used in this report.