Abstract The black-hole binary Cygnus X-1 was observed for 17ks with the Suzaku X-ray observatory in 2005 October, while it was in a low/hard state with a 0.7-300keV luminosity of $4.6\times 10^{37}$ ergs $^{-1}$ . The XIS and HXD spectra, spanning 0.7-400keV, were reproduced successfully, incorporating a cool accretion disk and a hot Comptonizing corona. The corona is characterized by an electron temperature of $ \sim$ 100keV, and two optical depths of $ \sim$ 0.4 and $ \sim$ 1.5, which account for the softer and harder continua, respectively. The disk has an innermost temperature of $ \sim$ 0.2keV, and is thought to protrude half way into the corona. The disk not only provides seed photons to the Compton cloud, but also produces a soft spectral excess, a mild reflection hump, and a weakly broadened iron line. A comparison with the Suzaku data on GRO J1655 $-$ 40 reveals several interesting spectral differences, which can mostly be attributed to inclination effects, assuming that the disk has a flat geometry while the corona is grossly spherical. An intensity-sorted spectroscopy indicates that the continuum becomes less Comptonized when the source flares up on time scales of 1-200s, while the underlying disk remains unchanged.