Per Roll Call, sure looks like it:
Senior Democrats on and off Capitol Hill were becoming increasingly convinced late Tuesday that Rep. Rahm Emanuel (D-Ill.) is preparing to quit his post as the fourth-ranking House Democrat to accept a job as White House chief of staff in an Obama administration....
Several sources said Emanuel has not yet informed his fellow House Democratic leaders of any decision, but that he has told other confidants that he is going to accept an offer to join Obama’s administration.
--Michael Crowley