Suarez, bidding for only the second title of her career but first from the Masters 1000 series, made a stunning start at the Foro Italico where the players faced sweltering conditions.
The Spanish 10th seed broke the world number three midway through the opening set and had Sharapova on the ropes in a tight second before Sharapova found the breakthrough.
Sharapova broke the Spaniard in the eighth game of the second set for a 5-3 lead and after going on to hand her opponent three break points in the next game she recovered to level the match.
However Sharapova will be looking to improve several aspects of her game -- notably in terms of unforced errors -- if she is to go all the way in Paris in the coming weeks.
American rival Serena Williams, the winner in Rome the past two years, withdrew before the third round earlier this week citing an elbow injury and will be desperate to avenge her first round defeat in Paris last year.
Sharapova, who secured her final spot with victory over Victoria Azarenka, handed Suarez a break point in the opening game of the third set and despite twice saving the game Suarez moved ahead when Sharapova hit an easy return just wide.
Sharapova moved 3-1 ahead when Suarez, having first saved break point, conceded the game with a weak return that hit the net -- effectively ending her challenge.
The Russian held her serve for a 4-1 lead and, with Suarez's confidence deserting her, earned a double break point before taking her lead to 5-1, holding serve on her final game to seal the victory.
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