Fifa, football’s governing body, opened disciplinary proceedings after Uruguay’s 1-0 win on Tuesday and has requested television footage.
Chiellini claimed Suarez bit him on the left shoulder, but Suarez said the defender “bumped” into him. Suarez, 27, could be banned for up to 24 matches or two years.
Fifa said in a statement: “The player has the right to be heard and has until 21:00 BST to submit all documentation.
“The disciplinary committee does not yet have all the elements to discuss the matter. We cannot speak about what could potentially happen. This is in the hands of the disciplinary committee.
“The body pronouncing the sanction decides the scope and duration of it [the sanction] – so we really cannot anticipate what could or could not happen and that’s all we can actually say.”
Mexican referee Marco Rodriguez took no action following the incident, but Fifa can still punish Suarez.
Radio 5 live’s Richard Conway, who is in Brazil to report on the World Cup, said: “Given that spitting at an opponent carries a minimum tariff of six games, you would expect biting to carry a ban in excess of that.
“That gives you the benchmark many people are working on and would mean his World Cup would be over.”
Former Liverpool midfielder Jan Molby expects Suarez to be banned for the rest of tournament.
The Dane told reporters “I’m sure Fifa will make an example out of him. Obviously, his World Cup is over and I would expect Fifa to give him a long international ban.”
The longest ban in World Cup history is eight games, handed out in 1994 to Italy defender Mauro Tassotti for breaking Spain’s Luis Enrique’s nose with his elbow during the second half of their quarter-final.
Uruguay face Colombia in the last 16 on Saturday after finishing second in Group D behind Costa Rica.
Suarez’s actions have already received widespread condemnation.
Former England captain Alan Shearer told BBC Sport: “The pictures are damning and I don’t see how he can get away with it.”