No. Most advertisers pay per-click, so if you hide ads, you won't actually support the site in question. Even in the off-chance of payouts per-view, it's trivial for advertisers to use JavaScript to check if the ads are visible. Additionally, downloading but hiding ads to trick advertisers into paying would be akin to fraud.
In short, if you want to support your favorite websites, you'll have to whitelist them to disable Adblock Plus on those sites.