Sort of! In the United States, we often use these terms interchangeably, and the preferred name varies by region. Butter beans and lima beans are both members of the Phaseolus lunatus plant species (source). However, Lima beans and butter beans may be packaged at varying levels of maturity: Canned beans labeled "lima beans" are often a slightly smaller size with a light green color (this is because they're harvested earlier, making them a "younger" bean), while "butter beans" (also called large limas or gigante beans) are typically bigger, with a creamy white color and a softer texture.