Yes. depending on the version of donation page setup you are using, there are different options available.

Simple Donation Page

On the simple donation page setup on the Donation Page Settings tab, in the Additional Options area you can set Show email subscription info to YES and you can customize the label above the options. With this set to yes, the donor will see your email list categories on the bottom of the page and can check those they wish to subscribe to.

You also have the option to auto-subscribe the donor to the email list of your your choice under Subscribe Donor to Email List.

Advanced Donation Page

On the Page Designer tab, you can select the Subscriptions widget to add options to subscribe to email list categories or text messaging lists.

You can also auto-subscribe them to an email list using the Donation Page Settings tab in the Additional Info area. Select the email list under Subscribe Donor to Email List.