Yes. Paneer freezes very well and can be stored for up to six months in the freezer. Cut the paneer into cubes and place it on a freezer-safe tray. Freeze the cubes for a few hours, then transfer them to a freezer-safe bag or container and store them for up to six months in the freezer. To defrost, place them in hot water for 10 minutes. Drain the water and use.