Yes. For instance, if you write a hub about X and you say something in it about Y and I happened to have published a hub about Y, then in your hub make Y an in text link to my hub. The people at HubPages encourage that. Those with more experience can tell you of any limitations or if the practice can be overdone, but in general it's a good idea.
As someone else answered, there is a feature to help locate other hubs with related content.
But when you do it, be sure to put your referral tracker code into the URL. If you are not familiar with that, search the HubPages Help area on HubPages Referral Program. It's easy money.
An even better idea is for you to write a group of hubs on similar content and link them to each other. For instance, if you wrote hubs on Summer in Paris, Autumn in Paris, Winter in Paris, and Spring in Paris, you could put them into a group and could link them. I read that when people go from one to another of your hubs, Google thinks you're popular. Also that means more chances of an ad getting clicked.