Absolutely. Cancún sits on the northeastern tip of the Yucatán Peninsula, in the Mexican state of Quintana Roo. It's part of the Riviera Maya corridor that stretches south along the Caribbean coast through Playa del Carmen, Tulum, and beyond.
The peninsula itself separates the Gulf of Mexico from the Caribbean Sea and comprises three Mexican states (Yucatán, Quintana Roo, Campeche) plus parts of Belize and Guatemala.