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Yes it can suppress, but be careful when you are chosing right TVS. There are different TVS parts defined, so to say, for different protection waveforms. For example TVS for protection against lightening uses usec range (e.g. 10/1000us). For ESD the preferred range is ns (e.g. 1/30ns). These are rise and fall time of waveforms.
I am using one monostable multivibrator which is false triggered due to ESD(I am connecting this circuit with one sensor when I touch the sensor it is getting false triggered).I have used a TVS diode to avoid false triggering, but it is not reliable at all time.Can anyone suggest any solution for this problem?.
Added after 5 minutes:
Another one information is I didnt face this false triggering issue in a system which has earth connection. I have this problem in a system which does not have earth connection.