Yes. When used properly, foam rollers may help soothe and treat IT band tightness. Many athletes have successfully addressed IT band tightness with regular foam rolling.
From a side plank position, place your bottom thigh on the roller. Using your forearm to support your torso, move your arm so the roller rolls from the side of your hip to the side of your knee and back again. Some discomfort is normal, but stop and rest if you feel excessive pain.