Yes. Most Mahayana schools posit the one final vehicle (ekayana) and posit that everyone, in time, will become a fully enlightened buddha. As to the so-called Hinayana arhat, it is said that he has to enter the Mahayana path from the path of accumulation and go all the way to the path of no-more-learning, buddhahood. He has to go through the Mahayana path of accumulation, preparation, seeing, meditation.
According to Mahayana tenets, by way of generating bodhicitta, one enters the Mahayana path, whether one is established in Parinibbana (because the continuum is not severed), or abiding in nirvana with remainder, or an ordinary being.
Geshe Jamphel Gyaltsen's commentary on Shantideva's Bodhisattvacharyavatara says:
In comparison to someone who enters the Mahayana path directly, a
Hinayana arhat faces more problems. In order to achieve
self-liberation he has been meditating for a long time. He has gained
a level of bliss and great happiness. Because of this habit of bliss
and happiness it is very difficult for him to think about the
suffering of sentient beings. It is not a spontaneous tendency for him
to think about others´ suffering. So bodhicitta is not coming easily
for him. Therefore, it is advisable to enter the Mahayana directly,
even though it is not that easy, instead of going through the complete
liberation of a Hinayana arhat and then enter the Mahayana. To
illustrate this, there is a story about a practitioner who met
Shariputra. Shariputra wanted to tell him about the achievement of a
Hinayana arhat. Later on the practitioner met Manjushri who told him
about the views of the Mahayana. Based on that he developed wrong view
and as a result was reborn in the hells. What happened next is that,
even though he was reborn in the hells, he still had the karmic
imprint that connected him to the Mahayana path. Therefore it is said
that even though he spent some time in the hells, it was still quicker
for him to achieve the state of a buddha, than if he had gone through
the stages shown by Shariputra. Therefore, Buddha Shakyamuni praised
Manjushri for being so skilful in seeing that the person would react
in a very heavy way, propelling him to the lower realms, yet that in
this way he would achieve buddhahood quicker.
You might further study texts on 'Grounds and Paths' (Tib. Salam) as well as Asanga's bodhisattvabhumi.