The answer seems to be yes or no: depending on how you define "idolatry", and whether you consider the belief+intent or only the action+appearance. For example, Wikipedia says "yes",
According to Eric Reinders, icons and idolatry has been an integral part of Buddhism throughout its later history. Buddhists, from Korea to Vietnam, Thailand to Tibet, Central Asia to South Asia, have long produced temples and idols, altars and rosaries, relics to amulets, images to ritual implements. The images or relics of Buddha are found in all Buddhist traditions, but they also feature gods and goddesses such as those in Tibetan Buddhism.
Bhakti (called Bhatti in Pali) has been a common practice in Theravada Buddhism, where offerings and group prayers are made to Buddhist icons and particularly images of Buddha.
That Wikipedia section seems to be citing anglophone academics.
Conversely What Buddhists Believe, written by a monk, says no:
Although it is customary amongst Buddhists to keep Buddha images and to pay their respects to the Buddha, Buddhists are not idol worshippers. Idolatry generally means erecting images of unknown gods and goddesses in various shapes and sizes and to pray directly to these images. The prayers are a request to the gods for guidance and protection. The gods and goddesses are asked to bestow health, wealth, property and to provide for various needs; they are asked to forgive transgressions.
The 'worshipping' at the Buddha image is quite a different matter. Buddhists revere the image of the Buddha as a gesture to the greatest, wisest, most benevolent, compassionate and holy man who has ever lived in this world. It is a historical fact that this great man actually lived in this world and has done a great service to mankind. The worship of the Buddha really means paying homage, veneration and devotion to Him and what He represents, and not to the stone or metal figure.
The image is a visual aid that helps one to recall the Buddha in the mind [etc.]
Apparently the earliest phase of Buddhism was aniconic: see Aniconism in Buddhism.
I'd treat the above as an orthodox answer but it's possible that the answer (personal beliefs, people's hopes for answered prayer) may vary from person to person and/or from school to school.
In case you're interested, history includes a very similar question or concern, about whether other religions are idolatrous -- for example there is art and statues in many Christian churches; but they'll tell you they're not worshipping the statue itself, rather that they're praying to the saint (or Jesus) represented by the statue.
Even so there have been various "iconoclastic" movements or reforms at various times in history.
I can't tell you to what extent that's "like the Hindus" (you could ask that on Hinduism.SE).
