For tables that are audited, yes. There is a "Deleted Records" module in System Definition, where you can restore deleted records from audited tables.
What this WON'T do is restore any cleared references. e.g., you can delete a user, and all references to that user will be cleared (that user will be removed from the "Assigned to" field of any incident they're assigned to). Restoring the deleted record won't re-populate those references.
