The black-hole binary Cygnus X-1 was observed for 17 ks with the Suzaku X-ray observatory in 2005 October, while it was in a low/hard state with a 0.7-300 keV luminosity of 4.6 x 10(37) ergs(-1). The XIS and HXD spectra, spanning 0.7-400 keV, were reproduced successfully, incorporating a cool accretion disk and a hot Comptonizing corona. The corona is characterized by an electron temperature of similar to 100 keV, and two optical depths of similar to 0.4 and similar to 1.5, which account for the softer and harder continua, respectively. The disk has an innermost temperature of similar to 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 1-200 s, while the underlying disk remains unchanged.