Hello Rajan, I think I understand your question. Yes, you can upload your video to YouTube, then embed the code into your Hub's video capsule (for editing). If you have an uploaded video on Hubpages, simply replace it with the YouTube embed version.
When readers view your video on your Hub, the hits will be counted on YouTube as well. You can provide a backlink in the description on your YouTube page (below your video), to your hub. Such as: For more info, visit http://(your hub address) and this will increase your readership. Hope this is the answer to your question. Rock on Rajan.