The Brazilian club confirmed the signing of Suarez on Friday after his contract with boyhood Uruguayan club Nacional expired.
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Porto Alegre-based side Gremio returned to Brazil's Serie A at the end of last season following promotion.
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On Wednesday night, the club posted a clip on social media of the 35-year-old walking out of the tunnel to more than 30,000 fans at the Arena do Gremio.
Suarez can be seen waving to the ecstatic crowd and applauding the fans, who were heard chanting his name as he walked between huge sparklers.
The striker also posted footage of him pitch-side which where supporters can be seen holding banners and flags whilst jumping up and down.
His caption read: "Unforgettable night. THANK YOU THANK YOU THANK YOU @Gremio."
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Suarez turned down opportunities in the MLS and teams in the Middle East to remain in South America.
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Suarez follows in the footsteps of Ronaldo and Ronaldinho, who both started their careers at Gremio.
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Moving to the Brazilian side will also see him link up with former Liverpool midfielder Lucas Leiva.
Lucas, though, has had to stop playing football indefinitely due to a heart problem detected in routine pre-season checks.
Suarez, who will wear the No. 9 shirt at his new club, scored eight goals in 14 games for previous club Nacional, whilst helping them to the title.
Prior to his return to Uruguay, he spent 16 years in Europe, playing for Groningen, Ajax, Liverpool, Barcelona and Atletico Madrid.
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But he now has the tough task of trying to keep Gremio in the Brazilian top flight this season.