Yes. True lilies—plants in the genus Lilium—are herbaceous perennial flowers in the lily family (Liliaceae). According to the North Carolina Extension Gardener Plant Toolbox, they grow from bulbs that typically overwinter in the ground and send up new stems and blooms in later seasons, rather than completing their life cycle in a single year.
Above-ground stems and leaves die back after the growing season, but the bulb remains and can regrow when conditions are right. Hardiness varies by species and cultivar, so garden performance depends on matching the lily to the local climate. Plants that only share the word “lily” in their common name (such as daylilies or peace lilies) are different genera and should not be confused with true Lilium.
Source: North Carolina Extension Gardener Plant Toolbox — Lilium (Lilies, Lily)