Yes. If you've shared the link with another user, open the "Share" options at the top right. You can change permissions for individual users and remove access by clicking the drop-down box beside their name or email.
If you've shared the link with others using the "Get link" option, ensure it's set to "Restricted." You can then remove any added users. If you don't have added users, then anyone who has the link won't be able to access the file any longer.