No, although it might feel like it. Fans (and this applies to all fans, including portable ones) work by moving hot air away from your face or body, and then replacing this with cooler air. In essence, the general room temperature will be more or less the same, but where the fan is pointed will have a higher concentration of cooler air. The faster the fan, the better the circulation.
Read our guide on how to make a fan blow cold air if you need more help cooling down.