Yes. Meditating on the five aggregates and seeing the three characteristics of impermanence, stress, and non-self, leads all the way to Arahatship. In the words of the Anattalakhana Sutta:
"What do you think, monks — Is form constant or inconstant?"
"And is that which is inconstant easeful or stressful?"
"And is it fitting to regard what is inconstant, stressful, subject to
change as: 'This is mine. This is my self. This is what I am'?"
(Similarly with the other aggregates)
"Seeing thus, the well-instructed disciple of the noble ones grows
disenchanted with form, disenchanted with feeling, disenchanted with
perception, disenchanted with fabrications, disenchanted with
consciousness. Disenchanted, he becomes dispassionate. Through
dispassion, he is fully released. With full release, there is the
knowledge, 'Fully released.' He discerns that 'Birth is ended, the
holy life fulfilled, the task done. There is nothing further for this