Yes. But it can potentially involve a lot of steps, depending on how complex your solution is.
I'll outline the headlines.
- Set up a new database to act as "web" for this site; e.g.
approval_web
- Configure this database in your
<databases>
section
- Create a
Publishing Target
for your approval site
- Map up a new
<site>
entry and give it a host name; e.g. approval.site.com
Your editors can now publish to this new Publishing Target
and pass it on for internal review - before publishing to the "real" public facing website.
The most comprehensive guide I know for this is: Setting up content staging
Lastly; I seem to recall Sitecore making this easier in some recent release - but I can't find anything on it. It would involve the above principles anyway however.