Sunday's clash with Tottenham Hotspur at Anfield will see Suarez and Bale face each other and, while Carragher has the utmost respect for the Wales international, he is backing his Uruguayan teammate for the coveted title.
"The three of them have all had great seasons," Carragher told the Liverpool Echo.
"It looks like van Persie's goals will help United win the league but he hasn't been at the same high standard in recent weeks.
"Bale and Suarez have really come to the fore.
"I would go with Luis. He's the top scorer in the league but he's not just a goalscorer. That's not me being biased, I genuinely believe he's the best player in the league.
"I've been saying for the past 18 months I wouldn't swap him for any player in the Premier League. Luis hasn't proved anything to me this season. I knew what he was capable of.
"All top players have that bit of devilment in them - look at van Persie in his early days at Arsenal.
"You've got to base it on performances. I wouldn't be surprised if Luis Suarez wins either the PFA award or the Football Writers one. He's been brilliant for us.
"Bale is a big threat. He's so quick and powerful, he's difficult to stop.
"I'm sure every manager has plans to deal with Bale but often he finds a way around it because he's world class. We will need to be on top of our game.
"Bale is instrumental for Tottenham but people say the same about Luis Suarez and us.
"They are the two most in-form players in the league. Alongside Messi and Ronaldo, Suarez and Bale are currently among the top four players in Europe."
Meanwhile, Carragher has called on Liverpool to end their Anfield hoodoo and claim victory over Spurs for the first time since January 2010.
He added: "The last time we beat Tottenham in 2010 it was like a European night at Anfield.
"I remember the noise after I made a couple of tackles and won a corner at the Kop end in the first half.
"We were on a bad run at the time but the atmosphere was fantastic and the crowd really carried us home.
"Both teams were going for the top four but unfortunately we weren't able to push on after that and get fourth place. Spurs got it and credit to them. We've found it tough against them ever since.
"Under Harry Redknapp, Spurs really came on strong and established themselves as one of the top teams in the country.
"Even our supporters would admit they've been impressed when Spurs have come to Anfield in recent years.
"Andre Villas-Boas has done well since he took over last summer and they're having a great season. Spurs have brought in young players and they haven't been afraid to sell players either. They have got top dollar and reinvested that money wisely.
"Credit to their manager because with Modric and van der Vaart going, they lost two of their best players but he has kept them moving forward. Tottenham have had the Indian sign over us but we want to make sure that comes to an end on Sunday."
Liverpool haven't beaten a team in the top four this season but with confidence high at Anfield after plundering 12 goals in their last three games, Carragher insists there is no reason why the Reds can't take all three points on Sunday.
He added: "The performances have been there against the top sides, we just haven't been able to get the results.
"Of course picking up three points is the most important thing and recently we've started to get the wins we want.
"We're playing well and are in a good run of form. Our home record has been good so we'll go into the game with confidence.
"Going out of Europe and the FA Cup was disappointing as we want to be challenging for trophies, but it has meant there's more time to work on the training pitch. When you've got a midweek game, a lot of the week is taken up preparing for the match and then recovering.
"Only playing once a week is good from the manager's point of view in terms of getting his message across and I think you can see the manager's work in the way we're playing at the moment."